To Avoid Double Counting in the Computation of GDP, Only

question 27

Multiple Choice

To avoid double counting in the computation of GDP, only the value of ______ goods are included.

• A) final
• B) used
• C) intermediate
• D) investment

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Definitions:

Crop-Lien System

A form of credit extended to farmers, typically those who grew cotton, where future crops were used as collateral for loans to purchase supplies and land.

Debt

An obligation or liability to pay or render something to another party, which can be a result of borrowing funds or acquiring goods and services.

Crop-Lien System

A credit system used in the Southern United States after the Civil War, where farmers borrowed against future crop yields, leading to debt and economic dependency.

Natural-Resource Frontier

Areas yet to be explored or developed that are rich in natural resources, such as minerals, forests, and water bodies, offering potential for economic development.