what is the definition of gross domestic product (gdp)?\na. an indicator used to measure the overall…

what is the definition of gross domestic product (gdp)?\na. an indicator used to measure the overall happiness of citizens based on their community involvement\nb. the total value of officially recorded goods and services produced in a countrys borders within a given year\nc. the monetary worth of goods and services produced in a country, plus income earned from investments outside of the country\nd. the total value of officially recorded goods and services produced by companies and citizens, both inside and outside a countrys borders, within a given year\nplease select the best answer from the choices provided.\na\nb\nc\nd

what is the definition of gross domestic product (gdp)?\na. an indicator used to measure the overall happiness of citizens based on their community involvement\nb. the total value of officially recorded goods and services produced in a countrys borders within a given year\nc. the monetary worth of goods and services produced in a country, plus income earned from investments outside of the country\nd. the total value of officially recorded goods and services produced by companies and citizens, both inside and outside a countrys borders, within a given year\nplease select the best answer from the choices provided.\na\nb\nc\nd

Answer

Brief Explanations:

GDP measures the total value of officially - recorded goods and services produced within a country's borders in a given year. Option A is about a happiness indicator, not GDP. Option C includes income from overseas investments which is part of GNP (Gross National Product) not GDP. Option D includes production by companies and citizens both inside and outside the country which is also related to GNP.

Answer:

B. the total value of officially recorded goods and services produced in a country’s borders within a given year