In order to include many different products in an aggregate measure, how is GDP computed?
A) using values of goods based on surveys of consumers
B) using primarily costs of production
C) using primarily market prices
D) using weights that are computed by how much of a particular good is produced relative to total output
Correct Answer:
Verified
Q2: What does the simple circular-flow diagram illustrate?
A)that
Q3: Which of the following statistics is the
Q6: Which of the following questions is more
Q7: In a simple circular-flow diagram, how are
Q8: In a simple circular-flow diagram, how are
Q9: Why does expenditure equal income?
A) because firms
Q9: How is GDP computed?
A)Add up the quantities
Q10: For which of the following purposes do
Q18: If GDP rises, what happens?
A) Income and
Q19: What is the relationship between income and
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