Intermediate goods are excluded from GDP because
A) they represent goods that have never been purchased so they cannot be counted.
B) The premise of the question is incorrect because intermediate goods are directly included in calculating GDP.
C) their inclusion would understate GDP.
D) their inclusion would involve double counting.
Correct Answer:
Verified
Q1: The components of the expenditure approach to
Q4: In Australia, GDP is typically measured
A)daily.
B)weekly.
C)quarterly.
D)monthly.
Q5: In the national income accounts, government expenditure
Q6: Which of the following items is NOT
Q7: The difference between gross investment and net
Q8: In the circular flow model of an
Q9: Real GDP can be criticised as a
Q10: Which of the following expenditures is for
Q11: Consumption expenditure is the payment by households
Q48: The circular flow shows that
A) GDP equals
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