Questions: To be included in a country's 2022 gross domestic product, a good or service must be produced within that country's borders produced by an a company headquartered in that country an import or export for the country used to produce other goods and services all of the above

To be included in a country's 2022 gross domestic product, a good or service must be
produced within that country's borders
produced by an a company headquartered in that country
an import or export for the country
used to produce other goods and services
all of the above
Transcript text: To be included in a country's 2022 gross domestic product, a good or service must be produced within that country's borders produced by an a company headquartered in that country an import or export for the country used to produce other goods and services all of the above
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Solution

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Answer

The answer is "produced within that country's borders."

Explanation
Option 1: Produced within that country's borders

This is the correct option. Gross Domestic Product (GDP) measures the total value of all goods and services produced within a country's borders in a specific time period, regardless of who owns the production assets. Therefore, for a good or service to be included in a country's GDP, it must be produced within that country.

Option 2: Produced by a company headquartered in that country

This is incorrect. GDP is concerned with the location of production, not the ownership of the producing company. A company headquartered in one country but producing goods in another country would contribute to the GDP of the country where the production takes place.

Option 3: An import or export for the country

This is incorrect. Imports are subtracted from GDP calculations because they represent spending on foreign-produced goods and services. Exports, however, are included in GDP because they are produced domestically. However, the question asks about a single good or service, and imports themselves are not included in GDP.

Option 4: Used to produce other goods and services

This is incorrect. While intermediate goods are used in the production of final goods and services, GDP only includes the value of final goods and services to avoid double counting.

Option 5: All of the above

This is incorrect because not all the options are true. Only goods and services produced within a country's borders are included in its GDP.

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