Question

2. To calculate GDP we need (a) Quantity of final goods and services produced in a country, (b) Prices of final goods and services.
(A) Only (a)
(B) Only(b)
(c) Both (a)and(b)
(D) Neither (a) and (b)​

Answer 1

Answer:

(D) Neither (a) and (b)​

Explanation:

The calculation of a country's GDP includes all private and public consumption, government outlays, investments, additions to private inventories, paid-in construction costs and the foreign balance of trade.

To calculate GDP we don't need (a) Quantity of final goods and services produced in a country, (b) Prices of final goods and services.

So, option (D) Neither (a) and (b)​ is correct.

Answer 2

Answer:

(D) Neither (a) and (b)​

Explanation:

The calculation of a country's GDP includes all private and public consumption, government outlays, investments, additions to private inventories, paid-in construction costs and the foreign balance of trade.

To calculate GDP we don't need (a) Quantity of final goods and services produced in a country, (b) Prices of final goods and services.

So, that's how option (D) Neither (a) and (b)​ is correct.