Question 1
By not counting the value of intermediate goods when calculating GDP, you avoid
◦ deficit spending.
◦ double counting.
◦ black-market accounting.
◦ year-to-date calculations.
Question 2
Which of the following would
not be counted in 2016's GDP?
◦ the value of a laser printer manufactured in 2016 but not sold in 2016
◦ the commissions earned by a sales associate in selling home theater systems built prior to 2016
◦ the value of a 1976 convertible you purchase from a dealer in 2016
◦ the 2016 salary of a used furniture salesperson