The total volume of business sales in our economy is several times larger than GDP because
A) GDP does not take taxes into account.
B) GDP excludes intermediate transactions.
C) GDP grossly understates the value of our annual output.
D) total sales are in money terms and GDP is always stated in real terms.
Correct Answer:
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Q171: Disposable income measures the before-tax income received
Q172: If nominal GDP is 150 and the
Q173: Adding the market value of all final
Q174: Personal income usually exceeds disposable income.
Q175: NDP can be determined by adding taxes
Q177: If real GDP is 50 and nominal
Q178: GDP is the market value of
A) resources
Q179: To avoid multiple counting in national income
Q180: All of the following are examples of
Q181: A business buys $5,000 worth of inputs
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