What is GDP? GDP (Gross Domestic Product)  is the total monetary value of all final goods and services  produced within a country’s borders  in a given time period (usually a year or a quarter). Types of GDP Type of GDP Meaning Nominal GDP Measured at current prices (includes inflation) Real GDP Adjusted for inflation → better indicator of growth GDP per capita GDP ÷ population → shows average income level 5 important MCQs on GDP MCQ 1 GDP includes: a) Value of final goods an