GDP may be defined as:
A) the monetary value of all final goods and services produced within a nation in a given year
B) GNI minus all non-income charges against output
C) the monetary value of the capital stock used in the production of a year's output
D) the monetary value of all goods and services, both final and intermediate, produced in a given year
E) the total monetary earnings of households supplying resources in the Canadian economy
Correct Answer:
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Q8: The term "final products" refers to:
A)products that
Q9: If intermediate goods and services were included
Q10: Which of the following is a final
Q11: National income accountants can avoid double counting
Q12: Which of the following is not considered
Q14: Suppose that the total market value of
Q15: By adding up the dollar value of
Q16: GDP includes:
A)neither intermediate nor final products
B)both intermediate
Q17: "Value added" refers to:
A)any increase in GDP
Q18: In 1933,net investment was -$5.8 billion.This meant
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