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Author Question: Which of the following will be categorized as an intermediate good in national income accounting? ... (Read 83 times)

shenderson6

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on: Jun 30, 2018
Which of the following will be categorized as an intermediate good in national income accounting?
 a. The value of oregano used as a seasoning for pizzas
  b. The crops consumed by a farmer's family members
  c. The present value of a car produced a couple of years ago
  d. A clunker sold during the current year
  e. The value of an antique piece of jewelry handed down over generations in a family

Question 2

If the value of intermediate goods and services are included in GDP, then:
 a. GDP would be understated.
  b. GDP would act as a true indicator of economic welfare.
  c. there would be double-counting.
  d. it would lead to depreciation.
  e. GDP would be able to give an exact estimate of the inventory in an economy.


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dominiqueenicolee

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

c


shenderson6

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

nanny

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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