The Statement That "GDP Values All Output Equally" Means That

question 108

Multiple Choice

The statement that "GDP values all output equally" means that

• A)household production is treated the same as production by firms
• B)depreciation of manufactured capital is treated the same as depletion of natural resources
• C)the purchase of pollution control equipment is valued the same as the pollution itself
• D)leisure time is valued the same as time spent working at a job
• E)the market price of output is the measure of that output's value

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Definitions:

Business Risk

The potential for losses or less-than-expected returns stemming from the economic, industry, or company-specific factors.

Property Insurance

Insurance that protects property from loss or damages.

Loss Or Damage

Refers to the negative impact, destruction, or impairment of value, function, or condition of property or goods.

Insurance Proceeds

The money received from an insurance company as a payout for claims made under an insurance policy.