Why are only final goods and services included in the computation of GDP?
Question:
Why are only final goods and services included in the computation of GDP?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (2 reviews)
Only final goods and services are included in the computation of Gross Domestic Product GDP for several key reasons Avoiding Double Counting Including ...View the full answer
Answered By
ALBANUS MUTUKU
If you are looking for exceptional academic and non-academic work feel free to consider my expertise and you will not regret. I have enough experience working in the freelancing industry hence the unmistakable quality service delivery
4.70+
178+ Reviews
335+ Question Solved
Related Book For
Introduction To Economics Social Issues And Economic Thinking
ISBN: 9780470574782
1st Edition
Authors: Wendy A. Stock
Question Posted:
Students also viewed these Business questions
-
Multiple Choice Questions: 1. GDP is defined as the? a. Value of all final goods and services produced in a country in a period of time. b. Value of all final goods produced in a country in a period...
-
Why does GDP measure only final goods and services produced rather than all goods and services produced?
-
Use the function, g(x)=|x|. Move the function to the left by 4 units, up by 6 units, stretch vertically by a factor of 3 units, and reflect over the y-axis.
-
What would a profile look like across a restraining bend? Releasing bend?
-
Give examples of economic and political risk that you could reasonably expect to encounter in acquiring a firm in an emerging economy. Be specific.
-
Abercrombie & Fitch Co. (ANF) and The Gap, Inc. (GPS) are two U.S. apparel retailers. The current assets and current liabilities for each company from recent balance sheets are as follows (in...
-
From time \(t=0\) to \(t=5 \mathrm{hr}\) radioactive steam is released from a nuclear power plant accident located at \(x=-1\) mile and \(y=3\) miles. The following wind conditions are expected:...
-
Visit the EDGAR database at (www.sec.gov). Access the Form 10-K report of Rocky Mountain Chocolate Factory (ticker RMCF) filed on May 24, 2011, covering its 2011 fiscal year. Required 1. Item 6 of...
-
Kohler Corporation reports the following components of stockholders' equity at December 31 of the prior year. Common stock-$10 par value, 100,000 shares authorized, 55,000 shares issued and...
-
If a newspaper headline indicates that U.S. net exports were $190 billion in 2011, it likely means that a. U.S. exports were $190 billion and U.S. imports were zero. b. U.S. imports were $190 billion...
-
The calculation of gross domestic product would include a. The purchase of a new automobile. b. Unemployment compensation benefits received by a former steel worker. c. The money Alice receives when...
-
Telamark Company uses the moving weighted average method for inventory costing. The following incomplete inventory sheet regarding Product W506 is available for the month of March 2023: Required...
-
On 1 October, Cooper's Appliance purchased \(\$ 8800\) of goods including GST for resale. On 11 October, it sold \(\$ 4500\) of these goods to customers at a selling price of \(\$ 6600\) including...
-
The Khan Heater Business sells portable heaters and related equipment. The business uses a perpetual inventory system, and its inventory balance at the beginning of September was \(\$ 3900\). Its...
-
The Ginther Power Tools Ltd had 100 air compressors in its 1 January inventory. It uses the perpetual inventory system and the FIFO inventory cost flow assumption. Ginther made the following...
-
The following information is available for the Miller and Keen Business for the year. Required: Prepare a schedule that calculates the cost of goods sold for the year. Beginning inventory Ending...
-
Explain integrated auditing.
-
Elises Draperies uses flexible budgeting and activity-based costing. The companys budget for variable overhead is $24,000 and the budget for fixed overhead is $20,000. When the company analyzes...
-
Consider the advantages and disadvantages of extending property rights so that everyone would have the right to prevent people imposing any costs on them whatsoever (or charging them to do so).
-
Discuss the distribution center concept. Is this likely to eliminate the storing function of conventional wholesalers? Is it applicable to all products? If not, cite several examples.
-
Clearly differentiate between a warehouse and a distribution center. Explain how a specific product would be handled differently by each.
-
If a retailer operates only from a website and ships all orders by UPS, is it freed from the logistics issues that face traditional retailers? Explain your thinking.
-
Consider a two-period binomial model in which a stock currently trades at a price of$70. The stock price can go up 15% or down 15% each period. The risk-free rate is 5%.Calculate the price of a...
-
Image transcription text 1. [#851] Two students 1 point In the queue at the bus stop, two students (with masses 80 and 60 kg respectively) are standing a distance 0.7 m apart. What is the magnitude...
-
An interest rate call option and put option based on a 90day underlying rate both have an exercise rate of 7.5% and expire in 180 days. The forward rate is 7.75% and the volatility is 0.045. The...
Study smarter with the SolutionInn App