What Type of Goods and Services Does the GDP Price

question 84

Multiple Choice

What type of goods and services does the GDP price index include?  

• A) all final goods and services produced in the economy 
• B) intermediate goods and services 
• C) wholesale goods and services 
• D) all goods and services sold in the economy

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Definitions:

Revenue

The total income generated by a business or organization from its activities, before any expenses are deducted.

Proportional Tax

A tax system where the tax rate is fixed and applied equally to all income levels, resulting in taxpayers paying the same percentage of their income regardless of earnings.

Progressive Tax

A tax system in which the tax rate increases as the taxable income or amount increases.

Regressive Tax

A tax system where the tax rate decreases as the taxable amount increases, disproportionately affecting lower-income earners.