Social Sciences, asked by Kuldeepchoudhar3711, 9 months ago

What is GDP? why r only final goods n services counted in GDP?

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Answered by juspenikke

1

Answer:

Only final goods are counted in measuring GDP because the goods used in making the final good are included in the final good, so it would be counted twice, otherwise. The value of used furniture that is bought and sold is not counted because the used furniture would have been included in GDP the year before.

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