Gross domestic product calculations count only final goods and services because
A) these are the only goods and services that are purchased in an economy.
B) counting all goods and services would lead to double-counting of many activities.
C) it is difficult to measure the prices of intermediate goods produced.
D) one cannot calculate the quantities of intermediate goods produced.
Correct Answer:
Verified
Q10: We measure gross domestic product by multiplying
Q11: The circular flow is used to make
Q12: The value of all final goods and
Q13: Which of the following would be a
Q14: The manner in which a nation's economy
Q16: If an economy produced 60 pounds of
Q17: In the circular flow model, firms sell
Q18: Fluctuations in economic performance is one of
Q19: In the study of macroeconomics, production leads
Q20: As depicted in the circular flow diagram,
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents