To Compute the Value of Nominal GDP

question 47

Multiple Choice

To compute the value of nominal GDP:

• A) goods and services are valued at market prices.
• B) the sale of used goods is included.
• C) production for inventory is not included.
• D) goods and services are valued by weight.

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Definitions:

Deductive Approach

A deductive approach refers to a method of reasoning from the general to the specific, where conclusions are logically drawn from premises or known truths.

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Persuasive Request

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Original Approach

A novel or unique method or strategy for addressing a problem or conducting a study.