Which of the following is true of the gross domestic product (GDP) of a nation?

Question

Which of the following is true of the gross domestic product (GDP) of a nation? O It is the sum of total spending on production and total income from that producti O It can be measured by the stock of consumer goods in the nation at a particular point in time It can be measured by the stock of capital goods in the nation at a particular point in time. It can be measured either by calculating the total spending on production or the total income from that production,. OIt can be measured from the stock of wealth in the nation.

Explanation / Answer

GDP refers to the production of goods and services during the accounting year. Thus, there following method of GDP calculation:

Hence, right answer is; It can be measured either by calculating the total spending on production or the total income from that production.

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