When the production process extends over more than one year, the value of the final product is:
A. included in GDP for the year in which production began.
B. included in GDP for the year in which production was completed.
C. allocated equally to GDP in each year.
D. allocated to GDP in each year according to the value added in that year.
Answer: D
You might also like to view...
If the reserve ratio is designated by "r," the amount of deposits a bank can hold as excess reserves is equal to 1 / (1 - r)
Indicate whether the statement is true or false
An increase in income produces a parallel, outward shift in the budget line.
Answer the following statement true (T) or false (F)
In the short run,
a. higher productivity means higher cost. b. lower productivity means lower cost. c. lower productivity means higher cost. d. productivity and cost are unrelated.
There are substantial racial differences in college attendance, within income classes
Indicate whether the statement is true or false