Total Value Added in an Economy Is Equal to the Value

question 88

Multiple Choice

Total value added in an economy is equal to the value of

• A)all final goods produced.
• B)all final and intermediate goods produced.
• C)all inputs and outputs in the economy.
• D)all profits of all firms in the economy.
• E)the sum of the value of primary,intermediate and final goods.

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Definitions:

Continuous Probability Distributions

Probability distributions in which the data can take infinitely many values within a given range.

Poisson Probability Distribution

A discrete probability distribution that expresses the probability of a given number of events occurring in a fixed interval of time or space, assuming these events occur with a known constant mean rate and independently of the time since the last event.

Binomial Probability Distribution

A probability distribution detailing the chances of a variable assuming one of two independent values based on specific parameters or assumptions.

Normal Probability Distribution

A bell-shaped probability distribution characterized by its mean and standard deviation, describing how random variables are distributed.