When the Production Process Extends Over More Than One Year

question 42

Multiple Choice

When the production process extends over more than one year, the value of the final product is:

• A)included in GDP for the year in which production began.
• B)included in GDP for the year in which production was completed.
• C)allocated to GDP in each year according to the value added in that year.
• D)allocated equally to GDP in each year.

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Definitions:

Biotechnology

The use of living systems and organisms to develop or make products, or any technological application that uses biological systems, living organisms, or derivatives thereof.

Military Technology

Technology developed and used by the armed forces to gain advantage in warfare.

Normal Accidents

A concept proposing that in complex systems, accidents are inevitable due to the unforeseeable interaction of multiple failures.

Technological Determinism

The theory that society's technology drives the development of its social structure and cultural values.