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Suppose an Individual Wishes to Provide a Definition of GDP

Question 23

Multiple Choice

Suppose an individual wishes to provide a definition of GDP for a given period. Which of the following phrases would be used when defining GDP?


A) Final and intermediate goods and services.
B) Final and intermediate goods and services produced by the private sector only.
C) Final goods and services purchased by domestic households.
D) Final goods and services.
E) Final and intermediate goods and services, plus raw materials.

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