SSC
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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GDP is the total value of:
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All goods and services
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All final goods and services
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All intermediate groups and services
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All intermediate and final groups and services
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Explanation:
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 correct answer is All final goods and services. Gross Domestic Product: Definition: GDP is the final value of the goods and services produced within the geographic boundaries of a country during a specified period of time, normally a year.
Detailed explanation-3: -Nominal GDP measures aggregate output (meaning the value of all of the final goods and services produced) using current prices.
There is 1 question to complete.