One Way to Avoid Counting the Prices of Intermediate Goods

question 13

Multiple Choice

One way to avoid counting the prices of intermediate goods multiple times in computing the value of GDP is to:

• A)sum the value added of only producers of final goods and services.
• B)sum the value added of only producers of intermediate goods and services.
• C)sum the value added of producers of both intermediate and final goods and services.
• D)subtract the value added of producers of intermediate goods and services from the value added of producers of final goods and services.

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Definitions:

Original Culture

The fundamental characteristics, beliefs, and practices of a society or community that have been established over time and serve as the foundation for its current identity and social norms.

Majority Culture

The prevailing cultural practices, beliefs, and values of the dominant group in a society.

Social Support System

A network of friends, family, and peers who provide emotional, informational, and practical help.

Illness

A state of being unwell or suffering from a disease or disorder, affecting either the body or mind.