Author Question: The GDP includes (Read 46 times)

RYAN BANYAN · **on:** Apr 19, 2019

Question 1

The GDP of the U.S. in 2014 was around $17.4 trillion. This means

◦ that the value of output in the U.S. in 2014 was around $17.4 trillion.
◦ that total income in the U.S. in 2014 was around $17.4 trillion.
◦ that total spending on final goods and services in the U.S. in 2014 was around $17.4 trillion.
◦ All of these.

Question 2

The GDP includes

◦ the value of all intermediate goods and services.
◦ the value of all final goods and services.
◦ the value of both intermediate and final goods and services.
◦ the value of all transactions.

amcvicar · **Reply #1 on:** Apr 19, 2019

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