Consumption is the purchase of goods and services by: A) households. B) governme

Question

Consumption is the purchase of goods and services by: A) households. B) government. C) business firms. D) foreign buyers E) all of the above. 24. The formula from the expenditure method indicates that GDP is equal to: A) C + I - G - X - M B) C + I - G + X - M C) C + I + G + X - M D) C + I + G + M - X 25. GDP does not directly include: A) the value of final goods and services produced, but not sold, during a period. B) the value of services rendered during a period. C) the value of intermediate goods sold during a period. D) any of the above. E) either a. or c.

Explanation / Answer

D A C

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