Question

Read over the questions carefully. There are 30 questions and each question has a value of 3 points. D Question 5 In the definition of GDP "final goods and services" means: Those goods no longer used to produce another product or service are counted Goods destined for final consumption in foreign countries are not counted Intermediate goods are not counted Only products certified and tested are counted as part of GDP Previous

Answer 1

a) Those goods no longer used to produce another product or service are counted; Final goods and services are meant for end consumption. Goods that are further used to produce goods and services are called intermediate goods.