GDP of a country is based on

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Total value of goods

Final value of goods and services

Initial value of goods and services

All of the above

answer is B.

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Detailed Solution

GDP of a country is based on the final value of goods and services.
GDP, or Gross Domestic Product, is the monetary or market value of all the final goods and services produced within a country during a fiscal year. It is a measure through which we can calculate the economy's size and the rate at which it is growing. There are different ways in which we can calculate GDP, using expenditure, production, or income. Real and nominal GDP are based on whether inflation is accounted for. Real GDP is the one which accounts for inflation, while nominal GDP is calculated at present market values and doesn't take inflation into account.

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