In the definition of GDP, "market value" refers to
A) valuing production in production units.
B) not counting intermediate products.
C) valuing production according to the market price.
D) when the production took place.
C
Economics
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Explain how globalization has benefitted consumers but has also widened the gap between rich and poor in the United States
What will be an ideal response?
Economics
An allocation of resources is technically efficient if:
a. it is impossible to increase the output of a particular good. b. it is possible to increase the output of all goods. c. it is impossible to increase the output of one good without cutting back on the production of something else. d. it is possible to increase the output of one good.
Economics