What does GDP stand for and what is its primary purpose in macroeconomics?

• A. Gross Domestic Product; it measures the total imports and exports of a country.
• B. Gross Domestic Product; it measures the total expenditures of a government.
• C. Gross Domestic Product; it measures the total value of goods and services produced in a country.
• D. Gross Domestic Product; it measures the total income of all citizens in a country.

Answer: (C)