Giving Reason Explain How Should the Following Be Treated in Estimating Gross Domestic Product at Market Price? Fees to a Mechanic Paid by a Firm. - Economics
Giving reason explain how should the following be treated in estimating gross domestic product at market price?
Fees to a mechanic paid by a firm.
A fee paid to a mechanic by a firm is not included in the estimation of gross domestic product at market price because it is only an intermediate expenditure for the firm.
Concept: Gross and Net Domestic Product (GDP and NDP)
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