Intermediate goods are excluded from GDP because
A) their inclusion would involve double counting.
B) they represent goods that have never been purchased so they cannot be counted.
C) their inclusion would understate GDP.
D) the premise of the question is incorrect because intermediate goods are directly included in calculating GDP.
Correct Answer:
Verified
Q4: Gross domestic product (GDP) measures the
A) number
Q5: The word "final" in the definition of
Q6: The calculation of the final goods and
Q7: If Nike, an American corporation, produces sneakers
Q8: Gross domestic product is a measure of
Q10: In the definition of GDP, "market value"
Q11: Which of the following is a final
Q12: In the United States, GDP is typically
Q13: Which of the following expenditures associated with
Q14: GDP is defined as the market value
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