False. GDP stands for Gross Domestic Product, which is the total value of all goods and services produced within a country in a given time period. It represents the total output of an economy, not the total expenditure.
False. GDP stands for Gross Domestic Product, which is a measure of the total value of goods and services produced within a country's borders during a specific time period, typically a year. It is a measure of output, rather than the total expenditure on that output.
