In GDP Accounting, the Value of the Total Final Output

question 10

Multiple Choice

In GDP accounting, the value of the total final output in a given period equals the value of the:

• A) total income generated by the production of final goods and services in that period.
• B) net revenue earned from the sales of intermediate goods and services during that period.
• C) total profit earned by firms involved in the production of the output during that period.
• D) total inputs used in the production of the final output in that period.

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Definitions:

Distinct Resamples

In statistics, it refers to the different subsets selected from a dataset for the purpose of bootstrapping or other resampling techniques.

Likely

This term implies a high probability or strong chance that an event will happen.

Measurements

The act or process of quantifying physical or abstract attributes by using instruments or techniques.

Standard Error

A measure of the variability or dispersion of a sample statistic, indicating its precision as an estimate of the population parameter.