Question

Which of the following items is included in U.S. GDP? Select one: a. the estimated value of production accomplished at home, such as backyard production of fruits and vegetables b. the value of illegally-produced goods and services c. the value of cars and trucks produced in foreign countries and sold in the U.S. d. None of the above is included in U.S. GDP.

Answer 1

Answer:

The correct answer is D

Explanation:

Gross Domestic Product (GDP) , is the economic term which is defined as the one that evaluated the economic activity value within the country. It is the sum or aggregate of the market prices of all the final or finished goods as well as services which are produced or manufactured in the economy during a time period.

In short, it states the output worth of the country in the local or country currency. So, it does not involve the value of the goods and services which are produced illegally, estimated production value accomplished at home and the value of truck and cars produced in foreign country and sold in US.