Complete the following sentence. Remember to spell correctly.

The market value of all final goods and services produced within a country in a certain period of time is called the gross domestic product, also known as ____.



Answer :

Final answer:

Gross Domestic Product (GDP) is the total value of goods and services produced in a country within a specific timeframe, crucial for assessing economic health.


Explanation:

Gross Domestic Product (GDP) is the market value of all final goods and services produced within a country's borders over a specific period, typically a year. It is calculated by adding up consumption (C), investment (I), government spending (G), and net exports ((X-M)). GDP provides a comprehensive measure of a country's economic performance and productivity.


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