Gross domestic product can be calculated
A) either by valuing the nation's output of goods and services or by valuing the income generated in the production process.
B) by adding up the personal consumption of all members of the society.
C) by adding up the value of all intermediate goods used in the economy.
D) by adding up the income tax returns of all members of the society.
Correct Answer:
Verified
Q2: Net investment equals
A) capital stock minus depreciation.
B)
Q51: Choose the best statement.
A) GDP equals aggregate
Q52: Which of the following relationships is CORRECT?
A)
Q53: Depreciation is defined as the
A) decrease in
Q54: Which of the following is CORRECT?
A) Aggregate
Q55: Gross domestic product (GDP) is
A) the value
Q57: The circular flow shows that
A) aggregate production
Q58: Total output and total income in the
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