Asked by Haydee Morales on Jul 04, 2024
Verified
GDP measures
A) the market value of intermediate products produced during the year.
B) the sum of the market value of both final and intermediate products produced during the year.
C) the sum of the market value of final products produced and imported during the year.
D) the market value of final products and services produced in the nation during the year.
Intermediate Products
Goods that are used in the production process to make other goods, rather than being sold directly to consumers.
Final Products
Goods that are ready for consumption by the end user and will not undergo further manufacturing or processing.
- Ascertain the kinds of outlays that are included in and excluded from the Gross Domestic Product.
Verified Answer
CC
Casey CarrollJul 09, 2024
Final Answer :
D
Explanation :
GDP measures the market value of all final goods and services produced within a country's borders in a given period of time, typically a year. It does not include intermediate goods or imported goods as those are already included in the final products' market value.
Learning Objectives
- Ascertain the kinds of outlays that are included in and excluded from the Gross Domestic Product.