Which of the following statements are correct? (This is an "all-or-nothing" question: if you do not mark all the correct answers, or mark any incorrect answers, you will get zero!) Select one or more: 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 incomes generated. 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.
Which of the following statements are correct? (This is an "all-or-nothing" question: if you do not mark all the correct answers, or mark any incorrect answers, you will get zero!) Select one or more: 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 incomes generated. 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.
Chapter5: Gross Domestic Product
Section: Chapter Questions
Problem 9SQ
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Transcribed Image Text:Which of the following statements are correct?
(This is an "all-or-nothing" question: if you do not mark all the correct answers, or mark any incorrect answers, you will
get zero!)
Select one or more:
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 incomes
generated.
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.
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