Which of the Following Is a Consumption Good That Would

question 19

Multiple Choice

Which of the following is a consumption good that would not be counted in GDP?

• A) The coffee Cyndi buys on her way to work in the morning
• B) Cyndi's brand-new car
• C) The sunglasses Cyndi bought on clearance sale yesterday
• D) The flour Cyndi purchases to make bread for her catering business.

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Definitions:

Sample Space

The complete set of all possible outcomes of a random experiment or the entire range of values that a random variable can assume.

Possible Outcomes

The set of all possible results that can occur from a particular experiment or event.

Experiment

An experiment is a controlled study in which variables are manipulated to determine their effects on other variables.

Relative Frequency Approach

A method for estimating probabilities by dividing the number of observed occurrences of an event by the total number of observations.