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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