The Dollar Value of Final Goods and Services Only Is

question 77

Multiple Choice

The dollar value of final goods and services only is counted in GDP because:

• A)we can measure only the value of final goods and services, not the value of inputs.
• B)if we counted the value of all goods, we would count inputs, like the value of steel in a new automobile, more than once.
• C)intermediate goods reduce GDP.
• D)only final goods and services matter for the economy.

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Definitions:

New Ideas

Refers to original or novel thoughts, concepts, or perspectives that have not been previously considered or explored.

Core Purpose Statement

A declaration that identifies the fundamental reason an organization exists, beyond just making a profit.

Risk of Harm

The potential for actions, situations, or products to cause injury, damage, or adverse effects to individuals or groups.

Decision Making

The cognitive process of selecting a course of action among multiple alternatives.