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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)
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B
Gross Domestic Product (GDP)
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C
Gross National Product (GNP)
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D
Net National Product (NNP)
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Solution

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.

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