Answered: GDP is $5 trillion. Depreciation is $1…

GDP is $5 trillion. Depreciation is $1 trillion. Gross output is $17.25 trillion. What is th value of all stages of production and distribution except for final sales of goods and services

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter13: Measuring The Economy's Performance

Section13.1: National Income Accounting

Problem 1R

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Question

GDP is $5 trillion. Depreciation is $1 trillion. Gross output is $17.25 trillion. What is th value of all stages of production and distribution except for final sales of goods and services?

Definition Video Definition Accounting method wherein the cost of a tangible asset is spread over the asset's useful life. Depreciation usually denotes how much of the asset's value has been used up and is usually considered an operating expense. Depreciation occurs through normal wear and tear, obsolescence, accidents, etc. Video

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