Question

the market value of all final goods and services from a nation in a given year is called...

○ economic growth

○ gross domestic product

○ competitiveness

Explanation:

To solve this, we analyze each option:

• "Economic growth" refers to the increase in the production of goods and services over time, not the market value of a nation's output in a year.
• "Gross Domestic Product (GDP)" is defined as the market value of all final goods and services produced within a nation in a given year, which matches the description.
• "Competitiveness" relates to a country's ability to produce goods and services more effectively than others, not the market value of its output.

Answer:

B. Gross Domestic Product