Question

What is the monetary value of all the goods and services produced in a country in a specific time period known as?

• A. Gross State Product
• B. Gross Domestic Product
• C. Planned Economic Output.
• D. Planned Domestic Output

Answer 1

The correct option is B Gross Domestic Product

Gross Domestic Product or GDP is the monetary value of all the goods and services produced in a country in a specific time. With increased GDP, generally the per-capita income will also increase which is the GDP per person in the country.