Which Is Included in GDP

question 159

Multiple Choice

Which is included in GDP?

• A)used autos purchased by consumers
• B)transfer payments
• C)telephone service for a home
• D)bread for a restaurant

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Definitions:

Fairness

The quality of making judgments that are unbiased, equitable, and just.

Unconscionability

A legal doctrine that describes terms that are so extremely unjust, or overwhelmingly one-sided in favor of one party, that they are contrary to good conscience.

Specific Performance

A legal remedy in contracts law requiring a party to perform their part of the contract, rather than simply paying damages for failing to do so.

Equitable Remedy

An equitable remedy is a judicial order enforcing a party to act or refrain from acting in a certain way, typically used when monetary damages are inadequate to resolve the harm.