The Value-Added Approach of Calculating GDP

question 28

Multiple Choice

The value-added approach of calculating GDP:

• A) is an alternative, and equally valid, way of avoiding the problem of double-counting.
• B) breaks down the total amount paid for a product to see how much of it was created at each step of the production process.
• C) is especially useful when thinking about the services involved in the resale of existing goods.
• D) All of these are correct.

---

Definitions:

Democratic Behaviours

Actions that promote participation, equality, freedom of speech, and respect for all individuals in a group or society.

Participative Behaviours

The actions of individuals who are actively involved and contribute to group or organizational decision-making processes.

Leadership Approaches

Various strategies and styles employed by leaders to guide, influence, and ensure the fulfillment of goals by their followers.

Emotional Intelligence

The ability to recognize, understand, and manage one's own emotions and to recognize, understand, and influence the emotions of others.