Amazoncom, an Internet Retailer of Books, Buys a Shipment of Economics

question 50

Multiple Choice

Amazon.com, an Internet retailer of books, buys a shipment of economics textbooks from a publisher.Is this included in GDP?

• A)Yes
• B)No
• C)It depends on how the payment is made
• D)Yes, in real but not nominal GDP
• E)Yes, in nominal but not real GDP

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Definitions:

Owner's Equity

The residual interest in the assets of a business after deducting its liabilities, representing the owners' share of the company's resources.

Liabilities

Financial obligations or debts that a company or individual owes, which must be settled over time.

Balance Sheet

A statement presenting a company’s financial standing, including details on assets, liabilities, and equity held by shareholders, at a particular point in time.

Total Assets

Total assets represent the sum of all resources owned by a company, valued in monetary terms, and listed on its balance sheet, including both current and non-current assets.