Question

The monetary value of all goods and services produced in a country in a specific time period is called ___.

• A. Maximum Retail Price (MRP)
• B. Gross Domestic Product (GDP)
• C. Gross National Product (GNP)
• D. Net National Product (NNP)

Answer 1

The correct option is B Gross Domestic Product (GDP)

Gross Domestic Product is the monetary value of all goods and services produced in a country in a specific time period. It is a measure of a country's economic growth. With increased GDP, generally, the per capita income also increases.