Why do economists include only final goods and services in


1. In what ways are national income statistics useful?

2. Explain why an economy's output, in essence, is also its income.

3. Why do economists include only final goods and services in measuring GDP for a particular year? Why don't they include the value of the stocks and bonds bought and sold? Why don't they include the value of the used furniture bought and sold?

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Econometrics: Why do economists include only final goods and services in
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