Asked by
Marco Medina
on Nov 22, 2024Verified
Ashton, an economics professor at the University of California, believes that gross domestic product (GDP) focuses on domestic production. Which of the following statements supports his beliefs?
A) GDP takes into consideration where the output is produced.
B) GDP takes into consideration who owns the asset producing the output.
C) GDP determines the output that domestic companies make abroad.
D) GDP determines who is benefiting from a country's production.
Gross Domestic Product
The total value of all goods and services produced over a specific time period within a country's borders.
Domestic Production
The creation of goods and services within a country's borders, contributing to its gross domestic product (GDP).
- Discover the tools utilized in the appraisal of a country's economic performance.
Verified Answer
AT
Learning Objectives
- Discover the tools utilized in the appraisal of a country's economic performance.
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