In Computing GDP,market Prices Are Used to Value Final Goods

question 25

Multiple Choice

In computing GDP,market prices are used to value final goods and services because

• A)market prices do not change much over time,so it is easy to make comparisons between years.
• B)market prices reflect the values of goods and services.
• C)market prices reflect the quantity sold.
• D)None of the above is correct;market prices are not used in computing GDP.

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Definitions:

Physiological Needs

Physiological needs are the basic necessities of life required by the body for survival, including food, water, shelter, and sleep, as outlined in Maslow's hierarchy of needs.

Self-Transcendence

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Protein

Large, complex molecules essential to the structure, function, and regulation of the body's tissues and organs, made up of amino acids.

Fat Cells

Biological cells that store energy in the form of fat, also known as adipocytes, playing critical roles in metabolism and energy homeostasis.