Consider the Following Data, Which Shows the Quantities and Prices

question 131

Multiple Choice

Consider the following data, which shows the quantities and prices of two goods produced in the economy, to answer the next three questions:

-An accurate measure of GDP is derived by adding:

• A) the dollar value of all goods and services produced.
• B) the value added at each stage of the production process.
• C) the value of all materials used to make the final goods and services.
• D) the profit earned from the sale of the final goods and services.
• E) the value of the intermediate goods used to produce the final goods and services.

---

Definitions:

Proslavery Argument

Justifications for slavery that emerged in the United States, including economic benefits, racial theories, and claims of benevolence.

Roman Empire

An ancient civilization that originated from the city of Rome, growing to become one of the largest empires in history, lasting from 27 BC to 476 AD in the West and until 1453 AD in the East (as the Byzantine Empire).

Pursuit Of Happiness

The right of individuals to seek out and engage in activities that they find personally satisfying or joyous.

George Fitzhugh

A nineteenth-century American social theorist known for his defense of slavery as a positive good, arguing that slavery ensured the welfare and civilization of society as a whole.