GDP During a Period Can Be Calculated by Summing Either

question 133

Multiple Choice

GDP during a period can be calculated by summing either

• A) the purchases of domestically produced final goods and services or the cost incurred in the production of those goods.
• B) the amount received by business firms for consumer goods and services or the spending of business firms on investment goods and services.
• C) all household expenditures on final goods and services or all business purchases of factors of production.
• D) sales of goods and services to foreigners or the purchase of goods and services from foreigners

---

Definitions:

Liquor Sales

The revenue generated from the sale of alcoholic beverages.

Smoothing Constant

A parameter in exponential smoothing models that controls the degree to which more recent observations are weighted more heavily than older observations.

Exponential Smoothing

A time series forecasting method for univariate data that applies weighting factors which decrease exponentially over time, emphasizing more recent observations.

Liquor Sales

The commercial activity of selling alcoholic beverages, including spirits, wines, and beers.