Which of the following is the correct definition for the Gross Domestic Product (GDP) of a country?

Q. Which of the following is the correct definition for the Gross Domestic Product (GDP) of a country?

1. The Gross Domestic Product is the total monetary value of the economic transactions within a country in a given year
2. The Gross Domestic Product is the total value of both monetary and non-monetary goods and services in a country within a given year
3. The Gross Domestic Product is the total value of tradable goods produced in a country within a given year
4. None of the above

Answer: None of the above