GDP Can Be Found By

question 22

Multiple Choice

GDP can be found by:

• A) Adding the monetary value of all final goods and services produced during a given period of time.
• B) Adding the physical amount of all final goods and services produced during a given period of time.
• C) Taking the difference between exports and imports during a given period of time.
• D) Adding the value of all final output produced and measuring it in constant prices during a given period of time.

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Definitions:

IFRS

International Financial Reporting Standards are globally accepted standards for accounting, aiming at bringing transparency, accountability, and efficiency to financial markets around the world.

Bargain Purchase

An acquisition where the purchase price is significantly lower than the fair market value of the acquired assets.

Net Book Value

The value of an asset after accounting for depreciation or amortization, as displayed on a company’s balance sheet.

Fair Market Value

The price that an asset would sell for on the open market between a willing buyer and seller.