Which of the following is a way to compute gdp

Asked by admin @ in Business viewed by 307 People

Which of the following is a way to compute GDP?

A. total income earned.
B. total expenditures on final goods.
C. add up the market values of all final goods and services.
D. All of the above are correct.

Answered by admin @


Answer:

C. add up the market values of all final goods and services is the correct answer.

Explanation:

  • By add up the market values of all final goods and services is a way to compute GDP.
  • GDP stands for Gross domestic product and describes the total financial cost of all goods and services produced and traded on the market within a country during a specified time
  • GDP is used to estimate economic activity in a country.  
  • Economists use the Gross domestic product to decide whether the economy is expanding or undergoing a recession.
  • GDP is calculated by National agencies.

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