Gross output (GO) for an economy in a given year
A) will always be less than GDP for that economy in the same year.
B) will always equal GDP for that economy in the same year.
C) may be greater than or less than GDP for that economy in the same year.
D) will always exceed GDP for that economy in the same year.

Question

Quizplus · Accepted Answer

Gross output (GO) measures the total economic activity in the production of new goods and services, including intermediate goods, while GDP measures the value of final goods and services. Therefore, GO will always exceed GDP.

Gross Output (GO) for an Economy in a Given Year