An Example of an Imputed Value in the GDP Is

question 121

Multiple Choice

An example of an imputed value in the GDP is the:

• A) value-added of meals cooked at home.
• B) housing services enjoyed by homeowners.
• C) services of automobiles to their owners.
• D) value of illegal drugs sold.

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Definitions:

American Farmers

Refers to individuals in the United States engaged in the practice of agriculture, raising crops and livestock for consumption or sale.

Farm Goods

Products produced through agriculture, including crops, livestock, and other raw materials.

Increasing Production

Refers to the process of augmenting the output or manufacture of goods and services in an economy.

Agricultural Adjustment Act

A New Deal legislation passed in 1933 aimed at reducing agricultural production through financial incentives, thus raising farm prices.