Exhibit 18-2 -Exhibit 18-2 Shows the Cost of the Components Used to the Components

question 106

Multiple Choice

Exhibit 18-2

-Exhibit 18-2 shows the cost of the components used to produce a $550 smartphone. The total value of output that would be recorded in GDP is

• A)$200.
• B)$360.
• C)$400.
• D)$450.
• E)$550.

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Definitions:

Chattel Paper

A legal document that specifies an obligation involving movable personal property, often related to leases or loans.

Instruments

Legal documents or tools that facilitate administrative, commercial, financial, or legal processes.

Consumer Goods

Items produced for personal, family, or household use, typically excluding services.

Equipment

Equipment encompasses the set of tools, machinery, and other hardware required for the execution of specific tasks or activities within various fields and industries.