Author Question: Fill in the blank for the following: GDP is the value of all ________ produced in a given period. ... (Read 23 times)

jace · **on:** Jun 30, 2018

Fill in the blank for the following: GDP is the value of all ________ produced in a given period.

A) final and intermediate goods and services produced by the private sector only
B) final goods and services
C) final and intermediate goods and services, plus raw materials
D) all of the above
E) none of the above

Question 2

In addition to capital accumulation and technological progress, what are some of the other possible explanations for recent output growth in China?

What will be an ideal response?

johnharpe · **Reply #1 on:** Jun 30, 2018

Answer to Question 1

B

Answer to Question 2

There are several additional potential causes of economic growth in China. These are: (1 ) the transition from central planning to a market economy; (2 ) the encouragement of joint ventures with foreign firms; and (3 ) protection of property rights.