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A nation's nominal gross domestic product (GDP) a.) is the dollar value of all final output...

A nation's nominal gross domestic product (GDP)

a.) is the dollar value of all final output produced within the borders of the nation during a specific period of time

b.) can be found by summing C+I+S+NX

c.) is always some amount less than C+I+G+NX

d.) is the dollar value of final output produced by its citizens, regardless of where they are living

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Answer #1

A nation's nominal gross domestic product (GDP):

Answer: a.) is the dollar value of all final output produced within the borders of the nation during a specific period of time

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Gross Domestic Product (GDP) is the monetary value of all finished goods and services made within a country during a specific period.

GDP = C+I+G+NX

Gross national product (GNP) is an estimate of total value of all the final products and services turned out in a given period by the means of production owned by a country's residents

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