GDP is:
a. the value of all final goods and services produced domestically within a given period of time

b. the value of all final good and services produced anywhere in the world by a nation's firms within a given period of time.
c. the value of all final goods and services produced by a government within a given period of time.
d. the sum of all currency and coins in circulation.

a

Economics

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Prior to 1840, most businesses were

A) family-owned. B) corporate in structure. C) vertically integrated. D) collections of partnerships.

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Which of the following goods would most probably be an inferior good?

A. French wines B. Generic beer C. Theater tickets D. Steak

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