Attempting to Calculate the Value of an Economy by Adding

question 52

Multiple Choice

Attempting to calculate the value of an economy by adding up the value of every good and service produced would lead to:

• A) overcounting, as the value of intermediate products would be counted twice.
• B) overcounting, as every good sold is marked-up in price.
• C) undercounting, as most goods are not sold in retail markets.
• D) undercounting, as the value of money changes over time.

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