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:

Prior Restraint

The government action that prohibits speech or other expression before it can take place, often challenged as unconstitutional under free speech laws.

Libel

A form of written defamation, falsely damaging someone's reputation by conveying misleading or false statements.

Potter Stewart

An Associate Justice of the United States Supreme Court known for his pragmatic approach to the Constitution and famous for his quote on obscenity, "I know it when I see it."

Pornography

Visual or written content that depicts sexual content for the purpose of sexual arousal.