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ECO 201 Chapter 7 Exam Questions and Answers 100% Pass

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ECO 201 Chapter 7 Exam Questions and Answers 100% Pass C national income accounting - the techniques used to measure the overall production of a country's economy as well as other ralated variables GDP - the total market value of all final goods and final services produced annually within the boundaries of a nation final goods and services - products that have been purchased for final use (rather than for resale or further processing or manufacturing intermediate goods and services - products that are purchased for resale or further processing or manufacturing value added - the value of a product sold by a firm less the value of the products (materials) purchased and used by the firm to produce that product gross output - the dollar value of the economics activity taking place at every stage of production and distribution multiple counting - counting the same good or service more than once

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ECON 201
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ECON 201








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Institution
ECON 201
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ECON 201

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Uploaded on
January 10, 2025
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Written in
2024/2025
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ECO 201 Chapter 7 Exam Questions
and Answers 100% Pass

C national income accounting - ✔✔the techniques used to measure the overall

production of a country's economy as well as other ralated variables


GDP - ✔✔the total market value of all final goods and final services produced annually

within the boundaries of a nation


final goods and services - ✔✔products that have been purchased for final use (rather

than for resale or further processing or manufacturing


intermediate goods and services - ✔✔products that are purchased for resale or further

processing or manufacturing


value added - ✔✔the value of a product sold by a firm less the value of the products

(materials) purchased and used by the firm to produce that product


gross output - ✔✔the dollar value of the economics activity taking place at every stage

of production and distribution


multiple counting - ✔✔counting the same good or service more than once




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