When GDP Is Calculated as the Final Demand for Goods

question 63

Multiple Choice

When GDP is calculated as the final demand for goods and services by consumers, businesses, governments, and foreigners, then GDP is measured by

• A)the sum of all value added.
• B)the sum of all productive resource inputs.
• C)the sum of all factor payments.
• D)the sum of final goods and services.

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Definitions:

Financial Position Valuations

Assessments that determine the value of a company's assets, liabilities, and equity at a particular time, reflecting its financial health.

Average

A numerical value derived from the sum of several quantities divided by the number of quantities.

Goods Available

The total inventory that a business has ready for sale, including both existing inventory and newly acquired goods.