The value of intermediate goods is not counted in GDP
A) to avoid counting their value twice and overstating the value of GDP.
B) because they are sold in factor markets.
C) because they are not consumed in the current year.
D) because intermediate goods reduce society's welfare.
E) because it is difficult to accurately record all the intermediate goods produced in an economy as large as Canada.
Correct Answer:
Verified
Q16: The circular flow diagram illustrates the expenditures
Q17: Which of the following is not correct?
A)Gross
Q18: Complete the following sentence.Net exports equals
A)exports divided
Q19: Of the following items, which one would
Q20: Capital in year 2018 equals capital in
Q22: Which one of the following would not
Q23: Intermediate goods are
A)purchased this year but consumed
Q24: Use the figure below to answer the
Q25: Which of the following increases Canadian GDP?
A)The
Q26: Use the figure below to answer the
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