GDP by the product method is the sum of what across all firms?

Question

Accepted Answer

C. Gross value added

1. Adding total output would double count.
2. GDP is the sum of gross value added.
3. All three methods give the same answer.
_Source: syllabus Introductory Macroeconomics, Chapter 2, National Income Accounting._

Answer

Total wages paid

Answer

Value of exports

Answer

Total sales value

GDP by the product method is the sum of what across all firms?

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