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Gross Domestic Product (GDP) measures: the market value of goods and services produced by the citizens...

Gross Domestic Product (GDP) measures:

the market value of goods and services produced by the citizens of the country, regardless of where they live and work.

the market value of goods and services produced within the geographic borders of the country, regardless of the nationality of the workers or the owners of the productive factors.

the value of goods and services produced by the domestically-owned factors of production within the geographic borders of the country.

the value of goods produced within the borders of the country, but services are excluded.

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Answer #1

Correct option is (2).

GDP measures the market value of final goods and services produced within the geographic borders of a country. The goods and services may be produced by domestically owned resources, or by foreign owned resources.

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Answer #2

Second Option.


the market value of goods and services produced within the geographic borders of the country, regardless of the nationality of the workers or the owners of the productive factors.

answered by: Tulsiram Garg
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