Question : Which of the following are true?
Option 1: Both are true.
Option 2: Both are false.
Option 3: Statement 1 is true and statement 2 is false.
Option 4: Statement 1 is false and statement 2 is true.
Correct Answer: Both are false.
Solution : Purchase of machinery by a producer is a final good because it is purchased for investment purpose. Only expected obsolescence is a component of depreciation not unexpected obsolescence. Hence, Option B is correct.
Question : Statement 1: Gross Domestic Product (GDP) is a measure of the total output of final goods and services produced within a country's borders.
Statement 2: GDP excludes the value of intermediate goods and services used in production.
Question : Which of the following statement are true as per the mechnaism given in the picture.
Question : Assertion: Gross Domestic Product (GDP) measures the value of all final goods and services produced within the domestic territory of a country during a specific period.
Reason: GDP includes the value of intermediate goods and services used in the production process.
Question : The products that directly satisfy human demands are referred to as:
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