GDP can be measured
A) either in terms of the total value of output produced or as the total value of consumer expenditures on goods and services.
B) either in terms of the total value of output produced or as the total value of income generated in producing that output.
C) either in terms of the total value of income generated in producing a nation's output or as the total sales of a nation's output.
D) either in terms of the total value of inputs used to produce a nation's output or as the cost of producing of that output excluding profit.
Correct Answer:
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Q5: What is the difference between a flow
Q13: The measurement of the value of goods
Q14: GDP is the sum of
A)personal consumption, private
Q15: Gross domestic product
A)is a flow variable.
B)is a
Q16: Refer to Figure 6-1."A" represents
A)the flow personal
Q17: Which statistic do economists use to measure
Q20: Refer to Figure 6-1."D" represents
A)the flow of
Q21: Government purchases include
I.purchases by the federal government.
II.purchases
Q22: Transfer payments are
A)payments to people for their
Q23: Which of the following is included in
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