Which of the Following Is a Way to Compute GDP

question 69

Multiple Choice

Which of the following is a way to compute GDP?

• A)add up the wages paid to all workers
• B)add up the quantities of all final goods and services
• C)add up the market values of all final goods and services
• D)add up the difference between the market values of all final goods and services and then subtract the costs of producing those goods and services

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Definitions:

Inductively

Using a method of reasoning that involves moving from specific observations to broader generalizations or theories.

Paid Vacation

A work benefit that allows employees to take time off from their job with continued salary payment.

Pay Bonus

An additional financial reward given to employees on top of their regular salary, often based on performance.

Inductive Sequence

A methodological approach in reasoning or presentation that moves from specific observations or instances to a generalized conclusion or theory.