Gross Domestic Product Calculations Count Only Final Goods and Services

question 52

Multiple Choice

Gross domestic product calculations count only final goods and services because

• A) these are the only goods and services that are purchased in an economy.
• B) counting all goods and services would lead to double-counting of many activities.
• C) it is difficult to measure the prices of intermediate goods produced.
• D) one cannot calculate the quantities of intermediate goods produced.

Recognize the different types of corporate stocks and their characteristics.

Apply concepts of corporate liability and the protection of personal liability in business formation.

Differentiate between S corporations and other forms of business entities concerning taxation and shareholder liabilities.

Analyze the role and legal implications of corporate promoters and subscribers.

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