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Gross domestic product calculations count only final goods and services because:

A) these are the only goods and services that are purchased in an economy.

B) counting all goods and services would lead to double-counting of many activities.

C) it is difficult to measure the prices of intermediate goods produced.

D) one cannot calculate the quantities of intermediate goods produced.

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Divya Singh
Divya SinghLv10
19 Oct 2020
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Related questions

What does Gross domestic product (GDP) include?

A. All intermediate goods and services produced in the economy in a given year

B. All final goods and services produced in the economy in a given year

C. All goods and services imported from abroad

D. All goods and services produced by the government

E. All of the above

 9. The series of ups and downs that tend to move the economy is known as __________. a. The economic cycle (business) b. recession c. depression d. economic growth 11. In the Circular Flow Model, consumption expenditures are the expenses of __________. a. The signatures by the factors of production. b. The government in the financial markets. c. The rest of the world in the goods market d. Families in the goods market. 12. GDP is a measure of the total value of __________. a. Sales in an economy over a period of time b. The consumer's income in an economy over a period of time. c. The accumulation of capital in an economy over a period of time. d. The final goods and services produced in an economy over a period of time. 
 13. In calculating GDP, double counting (counting the same twice) is avoided, not including __________. a.. Net exports b. Intermediate goods c. Illegal activities d. The depreciation

21 If the Federal Reserve reduced its reserve requirement from 6.5 percent to 5 percent. This policy would most likely:

A. decrease both the money multiplier and the money supply

B. decrease the money multiplier but increase the money supply

C. increase both the money multiplier and the money supply

D. increase the money multiplier but decrease the money supply

23 Real gross domestic product is best defined as

A. the market value of all final goods and services produced in an economy, stated in the prices of a given year

B. the market value of goods and services produced in an economy, stated in current-year prices

C. all goods and services produced in an economy, stated in the prices of a given year and multiplied by quantity

D. the market value of intermediate goods and services produced in an economy, including exports

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