Final goods or services used to compute GDP refer to:
A)the sum of all wages paid to laborers.
B)the factors of production used to produce output.
C)goods and services purchased by the ultimate users.
D)the value of outstanding shares of stock of manufacturing firms.

Question

Final goods or services used to compute GDP refer to:
A)​the sum of all wages paid to laborers.
B)​the factors of production used to produce output.
C)​goods and services purchased by the ultimate users.
D)​the value of outstanding shares of stock of manufacturing firms.

Quizplus · Accepted Answer

Final goods or services refer to the goods and services produced for consumption by the ultimate users, i.e., consumers, businesses, and the government. This excludes intermediate goods or services that are used in the production process. Therefore, option C - goods and services purchased by the ultimate users is the correct answer.

Final Goods or Services Used to Compute GDP Refer To