Transactions Involving Items Produced in the Past,such as the Sale

question 76

Multiple Choice

Transactions involving items produced in the past,such as the sale of a 5-year-old automobile by a used car dealership or the purchase of an antique rocking chair by a person at a yard sale,are

• A)included in current GDP because GDP measures the value of all goods and services sold in the current year.
• B)included in current GDP but valued at their original prices.
• C)not included in current GDP because it is difficult to determine their value.
• D)not included in current GDP because GDP only measures the value of goods and services produced in the current year.

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Definitions:

Busy Person

An individual who has a lot of tasks, responsibilities, or engagements, often leading to limited availability.

Professional Experience

The work history and accumulated skills and knowledge that an individual has gained through working in specific industries or professions.

Chronological Résumé

Format that emphasizes work experience, with past jobs shown in reverse chronological order; the most common résumé format.

Educational Qualifications

Refers to the formal certifications or degrees obtained by an individual through schooling and higher education.