This quantity, which can be calculated through "production," "expenditure," and "income" approaches, is equal to consumption plus investment plus government spending plus net exports.
Comparing this quantity at market exchange rates exaggerates income ratios in the Penn effect. The central equation of the quantity theory of money sets this quantity equal to velocity times the money supply. This quantity, which does not include net factor payments in its calculation, is often adjusted for purchasing power parity. This quantity, which can be calculated through "production," "expenditure," and "income" approaches, is equal to consumption plus investment plus government spending plus net exports. For 10 points, name this quantity that represents the total market value of goods and services produced annually within an economy.
Comparing this quantity at market exchange rates exaggerates income ratios in the Penn effect.
gross domestic product [Accept gross national product or GNP until "net factor payments" and do not accept or prompt thereafter.]