The value of goods and services must be counted only once. To avoid double counting, only the value of the final goods and services are included. The value of the intermediate goods which constitute the value of the final products is excluded. This is the problem of

The value of goods and services must be counted only once. To avoid double counting, only the value of the final goods and services are included. The value of the intermediate goods which constitute the value of the final products is excluded. This is the problem of

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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