ECONOMICS
PRODUCTIVITY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Yes, I understand this from the notes
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No, I don’t understand this from the notes
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No, I don’t understand this, as I have not read the notes
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None of the above
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Detailed explanation-1: -GDP measures the monetary value of final goods and services-that is, those that are bought by the final user-produced in a country in a given period of time (say a quarter or a year). It counts all of the output generated within the borders of a country.
Detailed explanation-2: -The value of national output produced by residents located within the country, before depreciation and including the influence of taxes and subsidies, is known as GDP at market price.
Detailed explanation-3: -Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of a given country’s economic health.
Detailed explanation-4: -Gross Domestic Product-output of goods and services produced by labor and property located within a country. Gross National Product-the total dollar value of goods and services produced by a nation, including goods and services produced abroad by U.S. citizen and companies.