The Four Categories of Final Users of GDP Are

question 78

Multiple Choice

The four categories of final users of GDP are:

• A)businesses, firms, governments, and the foreign sector.
• B)households, the Federal Reserve, governments, and the foreign sector.
• C)businesses, corporations, firms, and farms.
• D)households, firms, governments, and the foreign sector.

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Definitions:

Market Price

The present rate at which a product or service is being traded in the market.

Perfectly Competitive

A market structure where many firms offer products or services that are similar, leading to no single firm having significant market power.

Total Market

The total market refers to the entire demand for a specific good or service within a given geographic area or industry.

Market Price

The current price at which an asset or service can be bought or sold in the marketplace.