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Defining GDP

The following...

Question

The following statement is true or false? Give reasons.
Final goods include only those goods which are consumed by the households.

A

True

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B

False

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Solution

The correct option is B False
Final goods include those goods which are either consumed by the households or purchased by the producers for investment purposes.

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Write true or false with a reason:

Feasible combinations of goods are those combinations which a consumer can always buy, no matter what his income is.

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