If the Price of Pizza Is $10 This Year and $15

question 187

Multiple Choice

If the price of pizza is $10 this year and $15 next year, then 200 pizzas would contribute

• A)$2,000 to this year's GDP and $2,000 to next year's nominal GDP.
• B)$3,000 to this year's nominal GDP and $3,000 to next year's nominal GDP.
• C)$2,000 to this year's nominal GDP and $3,000 to next year's nominal GDP.
• D)$3,000 to this year's GDP and $2,000 to next year's GDP.

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Definitions:

Preferential Payments

Transactions made before a bankruptcy filing where a debtor gives preferential treatment to certain creditors over others.

Bankruptcy Filing

The formal process by which an individual or entity declares an inability to pay outstanding debts, seeking relief through legal proceedings.

Bankruptcy Trustee

A legally appointed individual responsible for managing the financial affairs of a person or business declared bankrupt, including asset liquidation and disbursing proceeds to creditors.

Chapter 7 Bankruptcy

A process under federal law designed to eliminate unsecured debts and liquidate non-exempt assets to pay creditors.