GDP does NOT directly include: a. the value of services rendered during a period. b. the...
GDP does NOT directly include:
a. the value of services rendered during a period.
b. the value of intermediate goods sold during a period.
c. the value of goods produced domestically and sold abroad.
d. the value of final goods and services produced, but not sold, during a period.
Homework Answers
b. the value of intermediate goods sold during a period.
GDP is the market value of all final goods and services produced within a country’s border during a given year.
The components of GDP are Personal consumption expenditure ( C ) + Business Investment (I) + Government spending (G) + Net exports ( X-M) i.e. exports minus imports.
GDP includes additions to inventories because the goods are produced in the given year.
GDP= C+I+G+(X-M)
Add Answer to:
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