Which of the Following Will Be Included in the Calculation

question 124

Multiple Choice

Which of the following will be included in the calculation of GDP using the income-based method of national accounting?

• A) The money spent by foreigners on domestically produced food grains
• B) Health insurance provided to a worker by the employer
• C) The value added by a worker in the production of a good
• D) The money paid to a pharmacist for medicines

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Definitions:

Ethical Behavior

The conduct that is consistent with what society, groups, or individuals deem to be correct moral principles.

Future Favors

The expectation or arrangement of receiving help, support, or advantage at a later time, as a return for one's current action or service.

American Concept

Refers to ideals and values commonly associated with the United States, such as freedom, democracy, and individualism.

Principle of Utilitarianism

A moral principle that proposes the optimal action is the one that enhances overall happiness, commonly understood as the action that results in the highest level of well-being for the largest group of individuals.