To avoid counting the same output more than once, the calculation of GDP includes
A. Only the output produced by U.S. factors of production.
B. The value added at each stage of production plus intermediate goods.
C. Intermediate goods plus final goods.
D. Only the value of final goods.
Answer: D
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Suppose Starbucks currently charges $2.50 per cup for its latte
If Starbucks raises the price to $3.00 per cup, based on the demand curve in the figure above, its total revenue will ________ because the demand for Starbucks latte is ________ over this price range. A) increase; elastic B) decrease; elastic C) increase; inelastic D) increase; unit elastic E) not change; unit elastic
If the price of textbooks increases by one percent and the quantity demanded falls by one-half percent, then the price elasticity of demand is equal to:
A. 2. B. 0.05. C. 0.5. D. 5.
An asset's price and rate of return:
A. are independent of each other. B. can be either inversely or directly related. C. are inversely related. D. are directly related.
If autonomous spending increases, the aggregate expenditure function becomes steeper.
Answer the following statement true (T) or false (F)