The Construction of a New State Highway Would Be Included

question 62

Multiple Choice

The construction of a new state highway would be included in the _____ category of GDP.

• A) personal consumption
• B) government purchases
• C) government output
• D) government investment

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Definitions:

Opportunity Cost

Opportunity cost refers to the value of the best alternative forgone when a decision is made to pursue a certain action.

Go to College

Refers to the process where individuals enroll and attend an institution of higher education, often to pursue a degree or additional training.

Earn a Degree

Earn a Degree refers to the completion of a course of study at a college, university, or other educational institution, culminating in the receipt of a diploma or certificate.

Fallacy of Composition

The logical error of assuming what is true of a part is necessarily true for the whole.