Q. GDP is defined as the value of all of?
Answer: final goods and services produced in an economy in a year
Notes: Gross Domestic Product (GDP) is the market value of all officially recognized final goods and services produced within a country in a given period. GDP was first developed by Simon Kuznets in 1934 to report to the US Congress. After the Bretton Woods Conference in 1944, GDP became the main tool for measuring a country's economy.
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