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Question
The total value of all final goods and services produced within a country in a particular year is called ______.
Options
Per Capita Income
Per Capita Production
Gross National Income
Gross Domestic Production
MCQ
Fill in the Blanks
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Solution
The total value of all final goods and services produced within a country in a particular year is called Gross Domestic Production.
Explanation:
The total value of all final goods and services produced within a country during a given year is referred to as Gross Domestic Product (GDP) is the closest choice (the standard wording is Product). This definition and term are used in national accounts.
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