All the following statements are correct except:
A) if double counting is not avoided, the GDP measurement will be too high.
B) GDP includes all market and non-market values of goods and services produced during a given time period.
C) since GDP includes only the value of currently produced goods, second-hand transactions are not included in GDP.
D) GDP measures the market value of final goods and services produced in a country during a given time period.

Question

Quizplus · Accepted Answer

GDP primarily measures the market value of all final goods and services produced within a country during a given period. It does not include non-market values, such as the value of household labor or volunteer work, which are not sold in the market.

All the Following Statements Are Correct Except