The Value of Intermediate Goods Is Excluded from the Measurement

question 50

Multiple Choice

The value of intermediate goods is excluded from the measurement of GDP in order to:

• A)adjust for inflation.
• B)avoid double counting.
• C)index economic activity.
• D)measure GDP in constant prices.

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Definitions:

The Passing

The process or act of moving through or beyond an obstacle, or the act of deceiving by presenting oneself as someone or something else.

Madison Grant

An American lawyer, historian, and author known for his work in conservation and for his controversial views on race and eugenics in the early 20th century.

Anglo-Saxon

A term referring to the Germanic inhabitants of England between the 5th and 11th centuries, and often used in wider contexts relating to English history and culture.

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A geographical and cultural region in Europe, generally described as encompassing many countries to the east of Germany and west of Russia.