QUESTION IMAGE
Question
why are intermediate products excluded from macroeconomic calculations of gdp?
because those products are goods, not services
because their value is included in that of the final product
because the gdp is a measure of market output on a local level
because the gdp is a measure of market output on a national level
GDP measures the value of final goods and services to avoid double-counting. Intermediate products are used to make final products, so their value is already reflected in the final product's price. Including them separately would count the same value multiple times.
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because their value is included in that of the final product