Which of the Following Statements Is Correct

question 120

Multiple Choice

Which of the following statements is correct?

• A)The value of all intermediate goods and final goods is included in GDP.
• B)The value of intermediate goods is included in GDP only if those goods were produced in the previous year.
• C)The value of intermediate goods is included in GDP only if those goods are added to firms' inventories to be used or sold at a later date.
• D)The value of intermediate goods is never included in GDP.

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Definitions:

Mode

The value that appears most frequently in a data set.

Sample Mean

The average value calculated from a sample, intended to estimate the population mean from which the sample was drawn.

Sample

A subset of a larger population selected for measurement or observation, intended to represent the larger group.

Standard Deviation

Standard deviation is a measure that quantifies the amount of variance or dispersion of a set of data values, indicating how much the values differ from the mean of the set.