The Value of Intermediate Goods Is Not Included in the Calculation

question 154

Multiple Choice

The value of intermediate goods is not included in the calculation of GDP to avoid the problem of

• A)depreciation.
• B)inflation.
• C)double counting.
• D)transfer payments.

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Definitions:

Relevant

Pertains to the matter at hand, having significant and demonstrable bearing on the facts or issues.

Probability

A measure of the likelihood or chance that a particular event will occur, often expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.

Deposition

A sworn, out-of-court testimony of a witness that is used for gathering information and evidence in legal proceedings.

Oath

A solemn promise, often invoking a divine witness, regarding one's future action or behavior.