Intermediate Goods Are Excluded from GDP Because

question 229

Multiple Choice

Intermediate goods are excluded from GDP because

• A) they represent goods that have never been purchased so they cannot be counted.
• B) their inclusion would involve double counting.
• C) their inclusion would understate GDP
• D) the premise of the question is incorrect because intermediate goods are directly included in calculating GDP.

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Definitions:

Ego Integrity

A sense of satisfaction and completeness that comes from looking back on one’s life and feeling a sense of accomplishment and contentment, as proposed by Erik Erikson's stages of psychosocial development.

Dialectical Reasoning

A method of argument that involves the reconciliation of opposites, often leading to a synthesis of ideas or solutions.

Conscientiousness

A personality trait characterized by organization, dependability, and a strong sense of duty.

Negative Stereotypes

Beliefs about a specific group of people that paint them in a negative light, often unfounded and prejudicial.