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Q.

The Gross Domestic Product is:


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a

Sum of production for the three sectors over a year

b

It is measured by the Information and broadcasting ministry

c

Gives an analysis of social performance

d

Reflects all intermediate goods and services only 

answer is A.

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Detailed Solution

1)      The Total monetary value of all the final goods and services produced within the geographic boundary of a country during a given period is known as GDP or Gross Domestic Product. It is one of the most important indicators of the economic status of a nation.
2)      A rising GDP is an arrow that the economy is expanding and the people are spending their money, which shows an economy that is growing stronger.
3)      GDP is regarded as the most necessary of the arrows that are used by economists all over the world for determining the growth of an economy. It serves as a central factor used for determining the development of the economy and is a very important parameter for estimating the performance of an economy.
 
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