Which of the following statements are correct?Select one or more:O a. Government spending on goods and services does not add to Gross Domestic Product.b. In most countries, consumers' expenditure is the biggest item in Gross Domestic Product.c. Gross Domestic Product measures the total final spending in the economy, or equivalently the total of incomesgenerated.O d. Gross domestic product is a stock, not a flow.e. The value of unsold goods that have been produced over the year is not included in GDP.

GDP The Gross Domestic Product (GDP) basically refers to the sum of all the value added in a given…

Which of the following statements are correct? Select one or more: O a. Government spending on goods and services does not add to Gross Domestic Product. O b. In most countries, consumers' expenditure is the biggest item in Gross Domestic Product. O c. Gross Domestic Product measures the total final spending in the economy, or equivalently the total of incomes generated. O d. Gross domestic product is a stock, not a flow. O e. The value of unsold goods that have been produced over the year is not included in GDP.

Which of the following statements are correct? Select one or more: O a. Government spending on goods and services does not add to Gross Domestic Product. O b. In most countries, consumers' expenditure is the biggest item in Gross Domestic Product. O c. Gross Domestic Product measures the total final spending in the economy, or equivalently the total of incomes generated. O d. Gross domestic product is a stock, not a flow. O e. The value of unsold goods that have been produced over the year is not included in GDP.

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Production And Growth

Section: Chapter Questions

Problem 5CQQ

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