Why is the value of Florida crops sold different from agriculture’s GDP contribution? » HSC U.S. Economy MCQ » MCQ Academy

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Why is the value of Florida crops sold different from agriculture’s GDP contribution?

GDP counts only unsold produce
Every crop sale equals the entire state GDP
Sales include intermediate inputs while GDP uses value added
Crop value is a measure of birth rates

GDP counts only unsold produce
Every crop sale equals the entire state GDP
Sales include intermediate inputs while GDP uses value added
Crop value is a measure of birth rates

Note

Sales include intermediate inputs while GDP uses value added is correct. Commodity production value measures marketed agricultural output, not total value added to state GDP.

A change in farm acreage alone does not reveal changes in productivity or value added.

Tags: Florida Economy, Florida Facts

Note

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