A Statistic Called Gross Output (GO) Sums Together the Value

question 41

Multiple Choice

A statistic called Gross Output (GO) sums together the value of economic activity taking place in each of the four stages of a productive economy, namely,

• A)resource extraction, production, distribution, and final output.
• B)planning, implementation, review, and wrap-up.
• C)addition, subtraction, multiplication, and division.
• D)by land, by air, by sea, and by rivers and lakes.

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Definitions:

Creditors

Individuals or institutions that lend money or extend credit to others.

Liabilities

Liabilities are financial obligations or debts that a company owes to external parties, which must be settled over time through the transfer of economic benefits including money, goods, or services.