Question

Suppose the total monetary value of all final goods and services produced in a particular country during 2010 is $600 billion, and the total monetary value of final goods and services sold is $450 billion. We can conclude that ___. real GDP in 2010 is $450 billion nominal GDP in 2010 is $600 billion inventories in 2010 fell by $50 billion nominal GDP in 2010 is $500 billion

Answer 1

We can infer that: A. The GDP was $450 billion in 2008. NDP was $450 billion in 2008. $500 billion was the GDP in 2008. D.

What is the total economic value of all finished products, services, and buildings created within a nation's borders over a 12-month period?

A measure of total production is a country's Gross Domestic Product (GDP). In more precise terms, it is the total monetary value of all finished goods and services produced in a nation or region over a certain time frame.

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