Single Answer MCQ
Q-00002687
Define Gross Domestic Product (GDP) and its significance.
1
Total value of goods and services produced within a country in a year
2
Total income of a country's residents
3
Total value of exports minus imports
4
Total government expenditure
Answer and Solution
Answer
A. Total value of goods and services produced within a country in a year
Solution:
Gross Domestic Product (GDP) is the total value of goods and services produced within a country in a year. It is a crucial indicator of a country's economic performance.
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