Question:
What is the monetary value of all final goods and services produced within a country in a year called?
What is the monetary value of all final goods and services produced within a country in a year called?
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\textbf{Gross Domestic Product (GDP)} represents the total value of production within a country's borders, while \textbf{Gross National Product (GNP)} includes income earned by residents from abroad.
Updated On: Oct 28, 2025
- Gross National Product
- Gross Domestic Product
- Net Domestic Product
- Net National Product
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The Correct Option is B
Solution and Explanation
The monetary value of all final goods and services produced within a country in a year is known as the Gross Domestic Product (GDP). It is a key economic indicator that measures the overall economic performance of a country and helps assess its growth and development.
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