Economics · National Accounting
Which of the following is/are correct? 1. GDP is calculated by adding up the value of all final goods and services produced in a country during a given year. 2. Intermediate consumption represents the value of goods and services used as inputs in the production process, excluding fixed assets. Select the answer using the codes given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Neither 1 nor 2
- 2Both 1 and 2✓
- 32 only
- 41 only
Correct answer
Both 1 and 2
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