Suppose the Total Market Value of All Final Goods and Services

question 49

Multiple Choice

Suppose the total market value of all final goods and services produced this year in economy X is $4 million.Of the $4 million worth of goods,$3 million is sold and $1 million is held in inventory.For this year,the GDP for economy X is

• A) $4 million.
• B) $3 million.
• C) $1 million.
• D) $7 million.
• E) none of the above

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Definitions:

Nonfunctional

Refers to elements or features of a system, product, or service that do not operate as intended or do not serve their intended purpose.

Product

An item or substance that is manufactured or refined for sale.

Package

A collection of items or data treated as a unit.

Suggestive Mark

A trademark that hints at the nature or quality of the goods or services it represents, without describing them directly.