The Reason Economists Include Only the Value of Final Goods

question 161

Multiple Choice

The reason economists include only the value of final goods and services when they calculate GDP is that intermediate goods:

• A)do not create value added.
• B)do not add to economic welfare.
• C)have no social value.
• D)would be double counted otherwise.

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Definitions:

Gay

A term used to describe individuals who are romantically or sexually attracted to people of the same sex.

Lesbian

A woman who is emotionally, romantically, or sexually attracted to other women.

Genetic Explanation

An explanation attributing the cause of individual differences and behaviors to genes and hereditary factors.

Fraternal Birth-Order Effect

A phenomenon suggesting that a male child is more likely to be homosexual if he has more older brothers.