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4 June, 13:47

Which answer is measured by the gross domestic product (GDP) ?

1) the number of products divided by the population

2) the total value of all products produced in a year

3) foreign products sold in the domestic market

4) domestic products sold overseas

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Answers (1)
  1. 4 June, 14:58
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    2) the total value of all products produced in a year

    Explanation:

    The purpose of GDP calculation is to measure a country's economic productivity throughout the year. It is counted by calculating the market value of all Goods and services that produced by people in that country within a year.

    Why other options are wrong:

    1. the number of products divided by the population

    This is used to calculate GDP per capita. It's different than the actual GDP itself.

    3. foreign products sold in the domestic market

    This is what we usually refer to as 'Import', not GDP.

    4. domestic products sold overseas

    This is what we usually refer to as 'Export', not GDP.
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