The reason economists include only the value of final goods and services when they calculate GDP is that intermediate goods:
A) do not create value added.
B) do not add to economic welfare.
C) have no social value.
D) would be double counted otherwise.
Correct Answer:
Verified
Q50: GDP is a:
A)stock concept and refers to
Q51: Great Basin National Park, the only national
Q52: Government purchases that are counted as part
Q53: The value of intermediate goods is:
A)included in
Q54: Which of the following is an example
Q56: Value added is calculated by:
A)subtracting the cost
Q57: Double counting in the national income accounts
Q58: Suppose the value of your home increases
Q59: Double counting in the national income accounts
Q60: Government expenditures for Social Security and unemployment
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