Sales of intermediate goods and services (goods and services purchased for further reprocessing and resale) are excluded from GDP to avoid the problem of double counting, which is counting an item's value more than once

Indicate whether the statement is true or false

true

Economics

You might also like to view...

What happens to the demand for Xbox games if the price of an Xbox falls?

A) The demand for Xboxes decreases because the price of a substitute falls. B) The demand for Xboxes increases because the price of a complement falls. C) The demand for Xboxes decreases because the price of a complement falls. D) The demand for Xboxes remains unchanged.

Economics

The real business cycle theory focuses on the impact that changes in long-run aggregate supply will have on the business cycle

Indicate whether the statement is true or false

Economics