AThe total value of goods and services manufactured in the country
BThe total value of all the transactions in the country
CThe reduction in the total value of goods and services produced in the country
DThe monetary value of all finished goods and services made within a country during a specific period.
Related Questions:
Which statement is correct for nominal GDP?
i.Nominal GDP is calculated based on current prices.
ii.Nominal GDP is calculated based on the base prices.
iii.Data on Nominal GDP shows an accurate picture of the economy as compared to real GDP.
With reference to the Gross Domestic Product, which of the following statements is/are correct?
1. It is the value of the all-final goods and services produced within the boundary of a nation during one year period.
2. It is calculated by adding national private consumption, gross investment, government spending and trade balance.
