When a firm produces output,
A) The value of the output produced is included in GDP
B) The firm's output contributes to GDP only to the extent that there is value-added.
C) The firm's output will not count as GDP if it is stored as inventory.
D) The firm's output will not count as GDP if it is exported.
B
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Which of the following statements is true?
A) Extractive economic institutions foster economic activity, productivity growth, and economic prosperity, while inclusive institutions fail to do so. B) Both extractive and inclusive institutions foster economic activity, productivity growth, and economic activity. C) Both extractive and inclusive institutions fail to foster economic activity, productivity growth, and economic activity. D) Inclusive economic institutions foster economic activity, productivity growth, and economic prosperity, while extractive institutions fail to do so.
Rock climbing areas are often on public lands. These areas, which are often crowded, are classified as
A) rival and excludable. B) non-rival and excludable. C) rival and non-excludable. D) non-rival and non-excludable.