When Measuring GDP

question 119

Multiple Choice

When measuring GDP,

• A)the government sector is not included because it is the public sector not the private sector.
• B)only the federal government's expenditure on goods and services are included.
• C)the government sector is counted, and the value of the government sector in GDP is equal to its tax revenue.
• D)the expenditure on goods and services by all levels of government are included.
• E)the government sector is not counted because it does not produce goods and services.

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Definitions:

Franchising

Contractual business arrangement between a manufacturer or other supplier, and a dealer such as a restaurant operator or retailer.

Recognizable Company Name

A business name easily identified or recalled by the public due to its distinctiveness or familiarity.

Training

The process of enhancing the skills, capabilities, and knowledge of employees for improving the performance of a job.