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Suppose the total monetary value of all final goods and services produced in a particular country in 2015 is $500 billion and the total monetary value of final goods and services sold is $450 billion.
We can conclude that:

A. GDP in 2015 is $450 billion
B. NDP in 2015 is $450 billion.
C. GDP in 2015 is $500 billion.
D. Inventories in 2015 fell by $50 billion.

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Answer:

C. GDP in 2015 is $500 billion.

Explanation:GDP(GROSS DOMESTIC PRODUCT) is a macroeconomic measure that is used to describe the total monetary value of the goods and services rendered within an economy in a given period of time usually annually.

IT IS GENERALLY BELIEVED THAT THE HIGHER THE GROSS DOMESTIC PRODUCT (GDP) IN AN ECONOMY SIGNIFIES THAT THE ECONOMY IS EFFICIENT IN MANAGING ITS PRODUCTIVE RESOURCES AND THE PRODUCTIVITY OF THE ECONOMY IS HIGH.

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