b) Which of the following statements is incorrect sales of used cars, existing homes and other second-hand goods are not included in GDP. GDP measures the value of all market and non-market goods and services produced during a given time period. the valued-added approach avoids double counting when GDP is measured. GDP measures the market value of final goods and services produced in a country during a given time period

b) Which of the following statements is incorrect sales of used cars, existing homes and other second-hand goods are not included in GDP. GDP measures the value of all market and non-market goods and services produced during a given time period. the valued-added approach avoids double counting when GDP is measured. GDP measures the market value of final goods and services produced in a country during a given time period

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter11: Gross Domestic Product

Section: Chapter Questions

Problem 3SQ

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