Canadian Securities Course (CSC) Level 1 Practice Exam

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What is Gross Domestic Product (GDP)?

The total market value of all imported goods and services
The overall value of a country's exported goods
The total market value of all the final goods and services produced in a country
The estimated future market value of a country's production

The correct answer is: The total market value of all the final goods and services produced in a country

Gross Domestic Product (GDP) is defined as the total market value of all the final goods and services produced within a country's borders in a specific time period, typically annually or quarterly. It is used to measure the economic performance of a country and is a key indicator of its overall economic health. Option A is incorrect because GDP includes both domestically produced and imported goods and services; it does not solely focus on imports. Option B is incorrect because GDP includes the total value of goods and services produced within the country, not just the value of exported goods. Option D is incorrect because GDP is a measure of past production, not an estimation of future market value.