GDP is the
A) national income minus all nonincome charges against output.
B) monetary value of all final goods and services produced within the borders of a nation in a particular year.
C) monetary value of all economic resources used in producing a year's output.
D) monetary value of all goods and services, final and intermediate, produced in a specific year.
Correct Answer:
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Q5: Arthur sells $100 worth of cotton to
Q6: The concept of net domestic investment refers
Q7: The value added of a firm is
Q8: Which of the following is an intermediate
Q9: Value added refers to
A)any increase in GDP
Q11: Value added can be determined by
A)summing the
Q12: The National Income and Product Accounts (NIPA)
Q15: Assume that a manufacturer of stereo speakers
Q20: Suppose Smith pays $100 to Jones.
A) We
Q24: If depreciation exceeds gross investment,
A) the economy's
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