The Word "Final" in the Definition of GDP Refers to

question 356

Multiple Choice

The word "final" in the definition of GDP refers to

• A) not counting intermediate goods or services.
• B) the time period when production took place.
• C) valuing production at market prices.
• D) counting the intermediate goods and services used to produce GDP.

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Definitions:

Costs

The expenses, losses, or other negative outcomes that are incurred as a result of actions or decisions.

Respond In Kind

Acting towards someone in the same manner as they have acted towards you, often in the context of reciprocating actions or gestures.

Strategy

A strategy intended to accomplish a long-term or overarching goal.

Bluffing

A strategy in negotiations where one party pretends to have a stronger position than they actually do to influence the other party's decisions.