We use market values to measure GDP because a. We want to compare different types of goods b. There are no other measures available c. We only buy goods and services from various types of markets s. Imported goods are valued using foreign currencies

We use market values to measure GDP because a. We want to compare different types of goods b. There are no other measures available c. We only buy goods and services from various types of markets s. Imported goods are valued using foreign currencies

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

We use market values to measure GDP because

a. We want to compare different types of goods

b. There are no other measures available

c. We only buy goods and services from various types of markets

s. Imported goods are valued using foreign currencies

Definition Video Definition Overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period. Video

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