Why are intermediate goods used to make final goods NOT included in the Net National Product?

Per Capita Real Income is calculated by dividing:

The main area of application implementation of the Cobb-Douglas production function is:

In response to an increase in the demand for its goods, a firm takes a bank overdraft, buys raw materials with the money so raised, and increases production. The firm can be said to have resorted to:

Which would you include when calculating the GNP?

_______________ is a tariff that maximizes a country's welfare.

Per Capita Real Income is calculated by dividing:

Why are intermediate goods used to make final goods NOT included in the Net National Product?

Which represent the marginal propensity to import?

_____________ refers to the change in the output of a firm or industry in the long run, when all inputs are increased or decreased simultaneously in the same ratio.

Economics can be defined as: