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which of the following is NOT true for GDP(a)GDP IS MEASURED IN MARKET VALUE(B)GDP MEASURES THE VALUE OF FINAL GOODS AND SERVICES(C) GDP DOES NOT INCLUDE NON-MARKET ACTIVITY

Answer:

What is GDP?

Gross Domestic Product (GDP) is the total market value of all the goods and services produced within a country in a given period of time. It is the measure of a country’s economic performance and it is used to compare the productivity levels between nations.

What GDP Measures

GDP measures the value of all the final goods and services produced within a country over a certain period of time. It does not include non-market activities such as unpaid housework or volunteer work.

What GDP Does Not Measure

GDP does not measure the market value of goods and services, as it measures the value of the final goods and services produced. It also does not include non-market activities, such as unpaid housework or volunteer work.

What is Not True About GDP

The statement “GDP is measured in market value” is not true. GDP does not measure the market value of goods and services, as it measures the value of the final goods and services produced.

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