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Which of the following is NOT correct about the methods to measure the GDP of an economy? Question 4 Answer a. Total spending on domestic
Which of the following is NOT correct about the methods to measure the GDP of an economy? Question 4 Answer a. Total spending on domestic products is the sum of all domestic spending from domestic households, firms, and the government on the home economy's products. b. Spending by foreign residents on the home country's products is part of the total spending on the home country's products. c. Total domestic income is the sum of all the incomes received by workers and employees including the self-employed, by businesses, and by the government. d. Value added to total domestic production is the difference between the value of output and the value of all inputs (called intermediate goods)
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