In Computing GDP

question 61

Multiple Choice

In computing GDP,

• A) expenditures on used goods are included.
• B) production added to inventories is excluded.
• C) the amount of production in the underground economy is imputed.
• D) the value of intermediate goods is included in the market price of the final goods.

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Definitions:

Importer

An entity that brings goods or services into a country from abroad for sale.

Proportions

Statements that two ratios are equal, showing the equivalence between two sets of numbers or measurements.

Unknown Quantities

Unknown Quantities are values in mathematical equations or problems that have not been determined or identified yet.

High-Definition Movie

A movie with a resolution that significantly exceeds that of standard-definition, providing a sharper and clearer image.