Question
GDP stands for Gross Domestic Product. What does it show ? Pick up the correct statement given below:
It shows how big is the economy of a country in a given year in terms of its total output
It shows what the total product of a country in a given year without counting the country's total resources
It shows the number of people involved in production in a particular year
It shows the total value of trade transactions of a country in a particular year
Solution
A.
It shows how big is the economy of a country in a given year in terms of its total output
