Asked by Sumayyah Bachooa on Jun 08, 2024
Verified
While GDP includes tangible goods such as books and bug spray, it excludes intangible services such as the services provided by teachers and exterminators.
Tangible Goods
Tangible goods are physical items that can be touched and seen, distinguished from services or digital products.
Intangible Services
Services that cannot be physically touched or stored, such as education, consulting, or legal advice.
- Appreciate the constituents of the Gross Domestic Product (GDP) and the methods applied in their analysis.
Verified Answer
CW
Chastiny WalkerJun 14, 2024
Final Answer :
False
Explanation :
GDP includes both tangible goods (like books and bug spray) and intangible services (such as those provided by teachers and exterminators).
Learning Objectives
- Appreciate the constituents of the Gross Domestic Product (GDP) and the methods applied in their analysis.