Why are the sales of used goods omitted from GDP?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (15 reviews)
Used goods are those goods which have been produced an...View the full answer
Answered By
Rukhsar Ansari
I am professional Chartered accountant and hold Master degree in commerce. Number crunching is my favorite thing. I have teaching experience of various subjects both online and offline. I am online tutor on various online platform.
5.00+
4+ Reviews
17+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
Why does GDP omit the sales of used goods? Of financial transactions? Of government transfer payments?
-
Answer the following questions about GDP: a. What is the definition of GDP? b. Why does GDP measure only the final value of goods and services? c. Why does GDP measure only the value of goods and...
-
Multiple Choice Questions: 1. Which of the following will be counted as part of this years U.S. GDP? a. Goods produced last year but not sold until this year. b. Goods produced this year by an...
-
Select the meso compound in the 1 point choices below: * >OH >H rggrr554 CH,OH CH,OH ffffhfghgt
-
The accrual of previously unrecorded revenues is the mirror image of the accrual of previously unrecorded expenses. Explain by using an illustration.
-
Repeat Problem 6.11 using Prakash and Sarans method. Problem 6.11 An eccentrically loaded foundation is shown in Figure P6.11. Use FS of 4 and determine the maximum allowable load that the foundation...
-
To the right of z = 1.175 Find the indicated area under the standard normal curve. If convenient, use technology to find the area.
-
Before preparing financial statements for the current year, the chief accountant for Springer Company discovered the following errors in the accounts. 1. The declaration and payment of $50,000 cash...
-
We use demand elasticities to quantify how much quantity demanded for a product would change given changes to the factors that affect demand. Some common demand elasticities are: own-price...
-
Use the Codification to locate archived FASB Interpretation 36. a. What does it discuss? b. How did you find that authority? c. What industry does that authority affect? d. What are the major...
-
Give an example that illustrates double counting.
-
If country As GDP is higher than country Bs GDP, does it follow that country A has a higher per-capita GDP than country B? Why or why not?
-
The bank columns of Tim Robsons cash book are as follows: Tim Robson received his bank statement on 3 May. Required Prepare a bank reconciliation statement at 30 April. Dr 2 Apr 10 Apr 27 Apr Balance...
-
Design a circuit that determines the two's complement of a binary number in a serial fashion.
-
Draw a simple circular flow diagram to illustrate the structure of a market economy. Include businesses and households, input and output markets, and real and money flows.
-
Consumers who want to eat fresh, local produce and small farmers looking for more predictable revenue have found a match in community-supported agriculture (CSA). CSA is essentially a subscription...
-
Find the centroid of a rod of length L, and mass M, using the first principle.
-
Research and write a short paper (two pages maximum) describing how organizations use aggregate planning options in Exhibit 14.3. EXHIBIT 14.3 Example Aggregate Planning Variables and Revenue/Cost...
-
Define work breakdown structure. How is it used?
-
For what reason might an exporter use standard international trade documentation (letter of credit, draft, order bill of lading) on an intrafirm export to its parent or sister subsidiary?
-
Fifty years ago, Grandma Bell purchased a set of gold plated dinnerware for $55, and last year you inherited it. Unfortunately a house fire at your home destroyed the set. Your insurance company is...
-
Your boss is the director of reporting for the Athens County Construction Agency (ACCA). It has been his job to track the cost of construction in Athens County. 1\venty-five years ago he created the...
-
An refinisher of antiques named Constance has been so successful with her small business that she is planning to expand her shop with all new equipment. She is going to start enlarging her shop by...
-
Superman Enterprises has just completed an initial public offering. The firm sold 4,700,000 new shares at an offer price of $17.00 per share. The underwritering spread was $0.78 a share. The firm...
-
ABV is a non-dividend paying stock whose current price is $50. Its volatility is 12%. Over each of the next two 6-month periods the stock price is expected to go up by 9% or down by 8%. The risk-free...
-
Assume you have a portfolio consisting of a $400,000 investment in stock A and a $600,000 investment in stock B. Suppose that the daily volatilities of these two assets are 2% and 1.5%, respectively,...
Study smarter with the SolutionInn App