AB 204 STUDY Successful Learning / ab204study.com AB 204 STUDY Successful Learning / ab204study.com | Page 6

2) What is an intermediate good? How does an intermediate good
differ from a final good? Explain why it is the case that the value of
intermediate goods produced and sold during the year is not
included directly as part of GDP, but the value of intermediate
goods produced and not sold is included directly as part of GDP.
3) GDP is defined as the market value of all final goods and services
produced within a country in a given period of time. In spite of this
definition, some production is left out of GDP. Explain why some
final goods and services are not included.
4) The table below contains data for country A for the year 2010.
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AB 204 Unit 5 Assignment
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) Assume there is a simple economy where people consume only 2
goods, food and clothing. Further assume that the market basket of
goods used to compute the CPI consists of 100 units of food and 20
units of clothing.