Suppose National Accounting Was Done by Adding Up the Market

question 84

Multiple Choice

Suppose national accounting was done by adding up the market values of all outputs of all firms.This approach would

• A)accurately reflect the value of production in the economy.
• B)obtain gross domestic product.
• C)obtain gross national product.
• D)underestimate the value of production in the economy.
• E)overestimate the value of production in the economy.

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Definitions:

Monocot

A group of flowering plants whose seeds typically contain only one embryonic leaf, or cotyledon.

Vessel Element

Cell that joins with others to form a major conducting tube found in xylem.

Guard Cells

Specialized cell pairs in plant leaves that control the opening and closing of stomata to regulate gas exchange and water loss.

Parenchyma

The functional tissues in an organ or plant, made up of cells that perform the specific function of that organ or structure.