Gross domestic product (GDP): Question 5 options: a) Is the sum of the outputs of goods and services produced by the economy in any year, and it is a measure of welfare b) Is the sum of the outputs of goods and services produced by the economy in any year, and it is not a measure of welfare c) Is the sum of the outputs of goods and services produced by the economy over the long term and it is a measure of welfare d) Is the sum of the outputs of goods and services produced by the economy over the long term and it is not a measure of welfare