Which of the Following Is a Consumption Good That Would

question 68

Multiple Choice

Which of the following is a consumption good that would be counted in GDP?

• A) A new bicycle purchased from Walmart
• B) A vintage bottle of wine purchased at an auction
• C) A washing machine purchased at a garage sale
• D) Newly issued stock purchased online

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Definitions:

President Bush

refers to either George H.W. Bush, the 41st President of the United States (1989–1993), or his son George W. Bush, the 43rd President (2001–2009), both of whom had significant impacts on U.S. and global affairs.

Economy

An area of the production, distribution, and trade, as well as consumption of goods and services by different agents in a particular geographic region.

Unemployment Benefits

Payments made by the government or a designated agency to unemployed individuals who meet certain eligibility criteria.

Aggregate Supply

Aggregate Supply is the total supply of goods and services that firms in a national economy plan on selling during a specific time period.