3
QuizMultiple Choice

4.3 Economic Indicators

Question 3 • VT-GA-EOC-Personal Finance & Economics A ULHS

What is gross domestic product?

Answer
A
The total dollar value of a country’s goods divided by the country’s population.
B
The level of comfort the average person in a country can reasonably afford.
C
The measure of a country’s economic health, social conditions, and standard of living.
D
The total dollar value of all the final goods and services produced within a country’s borders in a given year.

Explanation

Gross domestic product (GDP) is the market value of all final goods and services produced within a country’s borders during a given period, usually a year. This matches choice D. Choice A describes a per-person measure, while B and C refer more broadly to living standards or social conditions.

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