Post Utme Ims U 2023 Economics Question 26

Practice objective / multiple choice question 26 from the 2023 Post Utme Ims U Economics examination.

Post Utme Ims U 2023 Economics Objective / Multiple Choice
Question 26 POST_UTME_IMS_U • 2023 • ECONOMICS • objective

The concept of GDP (Gross Domestic Product) is a fundamental principle in national income accounting that refers to the total value of all final goods and services produced within a country's borders during a specific time period. Which of the following best describes the concept of GDP?

Answer Options

Correct Answer A. The total value of all final goods and services produced within a country's borders during a specific time period.
B. The total value of all intermediate goods and services produced within a country's borders during a specific time period.
C. The total value of all final goods and services produced outside a country's borders during a specific time period.
D. The total value of all intermediate goods and services produced outside a country's borders during a specific time period.
Correct Answer
A
Correct Option:
The total value of all final goods and services produced within a country's borders during a specific time period.

About This Question

This is Post Utme Ims U 2023 Economics Question 26. It is one of the objective questions from the 2023 Post Utme Ims U Economics examination.

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