The calculation of the final goods and services sold in an economy would NOT include
A) the purchase of a service by a household.
B) the purchase of a lawnmower by a household.
C) Ford Motor Company's purchase of a new industrial robot to be used to produce cars.
D) General Motors' purchases of tires for new automobiles.
Correct Answer:
Verified
Q6: GDP does not directly include intermediate goods
Q7: Gross domestic product (GDP) measures the
A) number
Q8: The word "final" in the definition of
Q9: Intermediate goods are excluded from GDP because
A)
Q10: Double counting (counting the same thing twice)
Q12: Gross domestic product is a measure of
Q13: Gross domestic product is the total produced
Q14: In 2009, Ozzie purchased a 1999 Ford
Q15: GDP is defined as the market value
Q16: In computing GDP, it is essential to
A)
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