The Value-Added Approach of Measuring GDP Does Not Do the Following

question 36

Multiple Choice

The value-added approach of measuring GDP does not do the following.

• A)It includes the revenue a firm receives from selling a product minus the amount paid for goods purchased from other firms.
• B)It includes only the value-added portion from the sale of goods and services.
• C)It includes only the second-to-the-last value of the intermediate good used.
• D)It avoids double counting.

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Definitions:

Olive Branch Petition

A final attempt by the colonists to avoid a war of independence against Britain, symbolizing peace and reconciliation.

King George III

The King of Great Britain and Ireland during the latter half of the 18th century, known for his reign during the American Revolutionary War and the subsequent loss of the American colonies.

No Hope

Generally signifies a situation or mindset where there is a belief that no positive outcomes are possible.

Declaration of Independence

A foundational document adopted on July 4, 1776, by the Continental Congress, declaring the thirteen American colonies to be independent from British rule.