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1 year ago

Gross domestic product is equal to the market value of all the final goods and services ________ in a given period of time

1 answer:

8 0

"Gross domestic product is equal to the market value of all the final goods and services produced within a country in a given period of time." Thus, option A is correct.

<h3>What is the Gross domestic product?</h3>

Gross domestic product (GDP) is defined as the measure of the monetary value that is of the final services and goods. It defines the amount and value that is paid by the customers for the product and goods.

The GDP of the goods and products produced by the country is equal to the market value for the final goods. It only includes the produced goods and does not account for the consumed goods.

Therefore, option A. the goods are produced in a country.

Learn more about GDP, here:

brainly.com/question/12618597

#SPJ1

Your question is incomplete, but most probably your full question was, Gross Domestic Product is equal to the market value of all the final goods and services ________ in a given period of time.

A) produced within a country

B) consumed within a country

C) consumed by the citizens of a country

D) produced by the citizens of a country

E) produced and consumed within a country

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2 years ago

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Answer: Forecast.

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3 years ago

exercise 4-9A Calculate the balance of cash using a bank reconciliation (LO4-5) Spielberg Company's general ledger shows a check

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Answer:

$22,789

Explanation:

One of the uses of the Bank Reconciliation Statement is to check the accuracy of the Cash Balance.

The Balance on the Bank Statement and that of the Cash Book in the Ledgers should always agree.

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3 years ago

Income rises from $3,500 to $4,000 a month and the quantity demanded of good X falls from 7 to 5 units a month. Income elasticit

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Answer:

E) -2.50 ; inferior

Explanation:

Before you earned $3,500 per month, you consumed 7 units per month. That means that you consumed 1 unit every $500 earned.

When your income increased to $4,000, you only consumed 5 units per month. That means that your consumption decreased to 1 unit for every $800.

The income elasticity of demand using the midpoint method is calculated by using the following formula:

income elasticity = {change in quantity demanded / [(old quantity + new quantity) / 2]} / {change in income / [(old income + new income) / 2]}

= {-2 / [(7 + 5) / 2]} / {500 / [(3,500 + 4,000) / 2]} = (-2 / 6) / (500 / 3,750) = -0.333 / 0.133 = -2.5

Since the income elasticity of demand is negative, the good X is an inferior good.

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3 years ago

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