Value added can be determined by
A) summing the profits of all enterprises in the economy.
B) subtracting the purchase of intermediate products from the value of the sales of final products.
C) calculating the year-to-year changes in real GDP.
D) deflating nominal GDP.
Correct Answer:
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Q6: The concept of net domestic investment refers
Q7: The value added of a firm is
Q8: Which of the following is an intermediate
Q9: Value added refers to
A)any increase in GDP
Q10: GDP is the
A)national income minus all nonincome
Q12: The National Income and Product Accounts (NIPA)
Q15: Assume that a manufacturer of stereo speakers
Q16: Gross domestic product (GDP) measures and reports
Q20: Suppose Smith pays $100 to Jones.
A) We
Q24: If depreciation exceeds gross investment,
A) the economy's
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