The Value of Intermediate Goods Is Not Counted in GDP

question 94

Multiple Choice

The value of intermediate goods is not counted in GDP

• A)to avoid counting their value twice and overstating the value of GDP.
• B)because they are sold in factor markets.
• C)because they are not consumed in the current year.
• D)because intermediate goods reduce society's welfare.
• E)because it is difficult to accurately record all the intermediate goods produced in an economy as large as Canada.

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Definitions:

HPA Axis System

A complex set of direct influences and feedback interactions among the hypothalamus, the pituitary gland, and the adrenal glands that regulate stress response, digestion, immune system, mood and emotions, sexuality, and energy storage and expenditure.

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A strategy to manage stress by reducing the emotional distress caused by the situation.

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An emotional state characterized by feelings of joy, satisfaction, contentment, and fulfillment.

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A facial expression formed by flexing the muscles at the sides of the mouth, often expressing happiness or pleasure.