The correct option is c) the value of intermediate goods sold during a period. GDP does not include the value of intermediate goods.
GDP is measured by taking the quantities of all goods and services produced, multiplying them by their prices, and summing the total. GDP can be measured either by the sum of what is purchased in the economy or by what is produced. Demand can be divided into consumption, investment, government, exports, and imports.
Final goods or services used to compute GDP refer to: the factors of production used to produce output, goods and services purchased by the ultimate users, the sum of all exports plus imports.
If you would want to count wages & salary directly you could use income approach to GDP where the GDP would be calculated by summing all returns to labor (wages & salary), profits, rental income and interest.
What is not included is Sales of goods that were produced outside our domestic borders, Sales of used goods, Illegal sales of goods and services (which we call the black market), Transfer payments made by the government. Only goods and services produced domestically are included within the GDP.
Which among the following is not a factor of production? Explanation: Wages are not included in the factors of production.
GNP does not include foreign residents' income earned within the country. GNP also does not count any income earned in India by foreign residents or businesses, and excludes products manufactured in the country by foreign companies.
When using the expenditures approach to calculating GDP the components are consumption, investment, government spending, exports, and imports.
We know that in an economy, GDP is the monetary value of all final goods and services produced. For example, let's say Country B only produces bananas and backrubs. Figure %: Goods and Services Produced in Country B In year 1 they produce 5 bananas that are worth $1 each and 5 backrubs that are worth $6 each.
This document is intended to describe Chiropractic Service benefits. Local chiropractors can file and be reimbursed according to the codes listed in this policy as they more accurately reflect the services that would typically fall within the scope of a chiropractor’s licensure.
Chiropractic services are limited to office settings and are not covered when performed in the home, nursing, residential, domiciliary or custodial facility for all BCBSRI products including BlueCHiP for Medicare.