Which of the Following Is Included in Gross Domestic Product

question 233

Multiple Choice

Which of the following is included in gross domestic product for an economy in a given year?

• A)the value of intermediate goods produced in that year
• B)the value of used goods sold in that year
• C)the value of final goods produced in that year
• D)All of the above would be included in gross domestic product for an economy in a given year.

---

Definitions:

Checks and Balances

Checks and balances is a principle in government where separate branches are empowered to prevent actions by other branches and are induced to share power, ensuring no single branch becomes too powerful.

Branches

Divisions or offshoots of a larger organization, company, or government that operate semi-autonomously, often with a specific local or functional focus.

Influence

The capacity to have an effect on the character, development, or behavior of someone or something, or the effect itself.

Spending Power

The financial ability or capacity of an entity (individual, government, or organization) to make purchases or invest, influencing economic activity.