Homework Help: Economic

Posted by Bob on Sunday, June 6, 2010 at 12:36pm.

1) GDP does not include intermediate goods because

a. that would understate the true size of GDP.
b. intermediate goods are not useful to consumers.
c. that would count the value of intermediate goods twice.
d. intermediate goods are not valuable.

2) The dollar value of an industry's sales minus the value of intermediate goods is

a. NDP.
b. transfer payments.
c. value added.
d. GDP.

3)Which of the following is included in measuring GDP?

a. The value added at each stage of production of a final product.
b. The transfer of secondhand goods.
c. Household services rendered by homemakers.
d. The buying and selling of securities.

4) Value added is

a. the amount of dollar value contributed to a product at each stage of its production.
b. the dollar value contributed to a product at the last stage of its production.
c. the price of an intermediate product.
d. the sum of the prices of intermediate products.

No one has answered this question yet.

Answer this Question

Related Questions

Economics - Discuss the relationship between the level of Gross Domestic Product...
economic - 1. If C = 1000 + 7/8[GDP-1000], I = 700 and G = 1000 and the economy ...
Econ - Do people living in countries with higher real GDP necessarily have ...
psy - )]}> Economists continue to measure our country’s economic ...
Phi - Economics continue to measure our countrys economic well being based ...
Economics - 1) If C = 1000 + 7/8[GDP-1000], I = 700 and G = 1000 and the economy...
macroeconomics - Year - 2000 Nominal GDP: 9,817 Real GDP: ___________ GDP ...
ECON - If C = 500 + 3/4[GDP- 100], I = 300, G = 400, Xn =- 10 and full ...
Macroeconomics - GDP - Please check my answers to see if they are correct, if ...
Economics - 21. How do fears of future economic problems affect GDP? A. ...

For Further Reading

First Name:
School Subject:
Answer: