The Word "Final" in the Definition of GDP Refers to

question 336

Multiple Choice

The word "final" in the definition of GDP refers to

• A) not counting intermediate goods or services.
• B) the time period when production took place.
• C) counting the intermediate goods and services used to produce GDP.
• D) valuing production at market prices.

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Definitions:

Great Depression

A severe global economic downturn that took place during the 1930s, leading to widespread unemployment, poverty, and deflation.

Economic Policies

are strategies employed by governments or monetary authorities to influence the economic behavior of a country, including fiscal and monetary policies.

Troubled Asset Relief Program

A U.S. government program created in 2008 to purchase toxic assets and inject capital into banks to stabilize the financial system.

Federal Budget Deficit

A flow variable measuring the amount by which federal government outlays exceed federal government revenues in a particular period, usually a year.