Which of the Following Is True

question 105

Multiple Choice

Which of the following is true ?

• A) GDP is a "flow" concept.
• B) The purchase prices of both intermediate goods and final goods are included in GDP.
• C) GDP measures economic welfare.
• D) GDP is a measure of changes in the general level of prices.

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Definitions:

Copyrighted

Refers to the legal right granted to an author, artist, composer, or publisher to exclusively publish, use, and sell their original work.

Instruments

Tools or devices used for scientific measurement, assessment, or to carry out a specific task or experiment.

Press

Refers to the news media and agencies involved in the production and dissemination of news through various outlets such as newspapers, television, and online platforms.

Nominal

Refers to a basic level of measurement that categorizes data into distinct groups without implying order or quantitative value.