|Under the output approach for the measurement of GDP, which of the following would be counted?|
|1. Value of final goods services|
|3. Net exports|
|Choose the correct one:|
A) Only 1
B) Only 2 and 3
C) Only 1 and 3
D) Only 1 and 2
Correct Answer: A
Solution :[a] GDP is calculated using the output approach by summing the value of sales of goods and adjusting (subtracting) for the purchase of intermediate goods to produce the goods sold.
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