Choose the multiple choice answers which, when strung together, create an accurate definition of GDP. The U.S. nominal gross domestic product is all final goods all goods and services all final goods and services all intermediate goods and services legally produced by residents of the United States within the territorial boundaries of the United States under the auspices of the U.S. government by entities owned by the citizens of the United States within a given presidential administration business cycle time period year and valued at the benefit the good or service provides to all of society. the price of the item adjusted for inflation. the prices at which the goods or services are sold. values set by the Congressional Budget Office.

Respuesta :

Answer:

The accurate definitions of GDP among the options provided are:

  1. The U.S. nominal gross domestic product is all final goods all goods and services all final goods and services
  2. The price of the item adjusted for inflation

Explanation:

Nominal GDP, or gross domestic product, measures the value of all finished goods and services produced by a country at their current market prices.

It is measured as the monetary value of goods and services produced.

It does not include intermediate goods and it differs from real GDP in that it includes changes in prices due to inflation, which reflects the rate of price increases in an economy.