To calculate GDP it is necessary to
A) add the total amounts of all the goods produced.
B) use production cost to place a dollar value on all goods produced.
C) average the cost of producing a good with the price of the good to place a dollar value on all goods produced.
D) use the market price to place a dollar value on each good produced.
E) use the average market price over the last five years to place a dollar value on all goods produced.
D
You might also like to view...
The share of U.S. personal saving in contractual form is ________, which helps ________ the effectiveness of stabilization policy
A) growing, enhance B) growing, undermine C) shrinking, enhance D) shrinking, undermine
The term "labor" for an economist includes
A. only the value of the work done by scientists. B. all employees who have high school diplomas. C. all skilled workers, but not the unskilled workers. D. all productive contributions of humankind.