The money value of all final goods?

Answer 1

The money value of all final goods, often referred to as Gross Domestic Product (GDP), represents the total monetary worth of all finished products and services produced within a country's borders in a specific time period. This value is calculated by summing up the market prices of all final goods and services, ensuring that intermediate goods are not counted to avoid double counting. GDP can be measured using three approaches: production, income, or expenditure, each providing insights into economic performance and activity.