In 2016, GDP Was Exactly Equal to Final Sales

question 191

Multiple Choice

In 2016, GDP was exactly equal to final sales. This implies that

• A) there was accumulation of inventories that year.
• B) there was a decline in inventories that year.
• C) there was no change in inventories that year.
• D) GDP did not grow that year compared to the year before.

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Definitions:

Conditional Sale Contracts

agreement for the sale of goods where the price is payable in instalments and the goods remain the property of the seller until the full price is paid.

Purchase Price

Purchase price is the amount of money paid to buy goods, services, or assets.

Combined Equivalent

The equivalent total effect or value when multiple factors or values are considered together.

Scheduled Payments

Pre-determined payments made at regular intervals, such as monthly or quarterly, often related to loans or leases.