A Weakness of the Measurement of GDP Is That It

question 63

True/False

A weakness of the measurement of GDP is that it includes the value of intermediate goods, therefore some double counting occurs.

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Definitions:

Machinery

The machines, equipment, and devices that are used in a variety of industries to increase efficiency in the production of goods or services.

United States

A country in North America comprising 50 states, known for its significant economic and political influence globally.

Mexico

A country located in the southern portion of North America, known for its rich cultural heritage, diverse landscapes, and vibrant cuisine.

Opportunity Cost

Opportunity cost represents the benefits an individual, investor, or business misses out on when choosing one alternative over another.