Asked by Marisa Mckay on May 13, 2024
Verified
GDP includes
A) intermediate but not final products.
B) substitute but not intermediate products.
C) final but not intermediate products.
D) complementary but not intermediate products.
Intermediate Products
These are goods that are used as inputs in the production of other goods and services, not intended for final consumption.
Final Products
Final products are goods or services that have completed the production process and are ready for sale to consumers or businesses, without needing further transformation.
- Discern the varieties of financial expenditures that are integrated into and discounted from the Gross Domestic Product.
Verified Answer
JC
Jennifer ContrerasMay 16, 2024
Final Answer :
C
Explanation :
GDP measures the value of all final goods and services produced within a country's borders within a given time period. Intermediate goods and services, which are inputs into the production of final goods and services, are not included in GDP to avoid double-counting.
Learning Objectives
- Discern the varieties of financial expenditures that are integrated into and discounted from the Gross Domestic Product.