GDP Excludes the Value of Intermediate Goods Because Their Value

question 33

True/False

GDP excludes the value of intermediate goods because their value is included in the value of final goods.

---

Definitions:

Formulate

To formulate is to develop or create a plan, statement, strategy, or expression carefully and with precision.

Judgments

Formal decisions or conclusions made by a court following a legal proceeding.

Transmits

The act of sending or conveying information, signals, or diseases from one person, place, or thing to another.

Initial Situation

The conditions or state of affairs at the beginning of a story, project, or scenario.