JKSSB Mock Tests

While estimating Gross Domestic Product, the monetary value of only final goods are considered because……… a) they are easier to count b) it prevents double counting c) they generate higher taxes

A. Only a and c
B. All a, b and c
C. Only b
D. Only a
Answer: Option C
Solution (By JKSSB Mock Tests Team)
GDP counts only the value of final goods to avoid the error of double counting, ensuring that the value of intermediate inputs isn't tallied multiple times throughout the production process.
This Question Belongs to: General knowledge mcqs Economics set 1

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