Question
If intermediate goods were counted as a part of gross domestic product (GDP), the value of these goods would be counted twice.
a. True
b. False
a. True
b. False
Answers
GPT-4o mini
a. True
Counting intermediate goods as part of GDP would lead to double counting, as their value is already included in the final goods that are produced using those intermediate goods. GDP accounts only for the value of final goods and services to avoid this issue.
Counting intermediate goods as part of GDP would lead to double counting, as their value is already included in the final goods that are produced using those intermediate goods. GDP accounts only for the value of final goods and services to avoid this issue.