Economics class notes
You can not select more than 25 topics Topics must start with a letter or number, can include dashes ('-') and can be up to 35 characters long. 451B

April 18 - Gross Domestic Product

A nation’s gross domestic product (GDP) is the total dollar value of all final goods and services produced within the country’s borders in a given year.

  • Dollar Value

    • The dollar price is the measurement, not quantity
  • Goods and Services

    • GDP includes both tangible goods and intanigble services
  • Final Products

    • not products that become parts of other products
  • within a given year