Which of the following observations concerning GDP calculations is true?
a. Goods and services produced by governments are valued at market price.
b. Inventories are treated as if they are yet to be sold.
c. Goods produced but not sold during the year are counted in that year's GDP.
d. Goods that firms add to their inventories do not count in the GDP.
c
Economics
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The discounted value of a future payment is also referred to as:
A) implicit value. B) explicit value. C) present value. D) temporal value.
Economics
Since 1970, federal expenditures by regulatory agencies have
A) remained constant. B) decreased slightly. C) increased dramatically. D) increased slightly.
Economics