GDP

question 103

Multiple Choice

GDP:

• A) is the dollar value of all the final goods and services produced within the borders of a nation.
• B) includes intermediate and final goods and services.
• C) minus an allowance for depreciation of fixed capital equals GNP.
• D) is a less-than-perfect measure of social well-being because it does not include exports and imports.
• E) all of the above.

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Definitions:

Discount

A reduction applied to the regular price of goods or services, often to encourage sales.

Par Value

A nominal value or face value assigned to a share of stock by the corporation at the time of issue.

Articles Of Incorporation

These are legal documents filed with a governmental body to legally document the creation of a corporation.

Liquidated

Refers to the process of converting assets into cash or completing a transaction, such as settling debts.