Why do we not count the value of intermediate goods and services in gross domestic product? Does the value of intermediate goods and services show up in gross domestic product? If so, how?
What will be an ideal response?
We would double count if we counted directly the value of intermediate goods and services, because their value shows up in the value of the final goods and services in which they are a part.
Economics
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According to the Laffer curve
A. an increase in tax rates will have an inconsistent effect on tax revenues. B. a decrease in tax rates will always increases tax revenues. C. an increase in tax rates will always increase tax revenues. D. a decrease in tax rates will always decrease tax revenues.
Economics
The most accurate quantitative time measure is:
a. Self-report or diary method b. Recall method c. Observation method d. A combination of all of the above methods to allow for cross checks.
Economics