Value added can be determined by:
A. summing the profits of all enterprises in the economy.
B. subtracting the purchase of intermediate products from the value of the sales of final products.
C. calculating the year-to-year changes in real GDP.
D. deflating nominal GDP.
B. subtracting the purchase of intermediate products from the value of the sales of final products
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When the U.S. dollar appreciates
A) foreign residents demand more of U.S. goods, and U.S. residents desire to purchase more foreign goods. B) foreign residents demand more of U.S. goods, and U.S. residents desire to purchase fewer foreign goods. C) foreign residents demand fewer of U.S. goods, and U.S. residents desire to purchase more foreign goods. D) foreign residents demand fewer of U.S. goods, and U.S. residents desire to purchase fewer foreign goods.
If Electro is a retailer of ductile iron pipes manufactured by Steelfact Corporation, an agreement between these two companies will be called a horizontal agreement
Indicate whether the statement is true or false
When GDP and other national income accounts are measured in nominal values, then they
A. are not comparable because they are not in real terms. B. should be converted into money values before comparing them over time. C. are measured in real values. D. are measured in current market prices.