Which of the Following Would Be Included in the Calculation

question 46

Multiple Choice

Which of the following would be included in the calculation of the GDP for the year 2010?

• A) Purchase of a 2004 model Volkswagen sedan in 2010
• B) Swapping of baseball cards among two college students
• C) Car repairs done by a person
• D) Fresh lemonade sold at a local diner
• E) A lamp sold at a garage sale

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Definitions:

Loans

Money, goods, or services provided to an individual or entity with the expectation of repayment over time with interest.

Interest Rates

The cost of borrowing money, typically expressed as an annual percentage of the loan amount.

Savers

Individuals or entities that set aside a portion of their income for future use, often by depositing it in financial accounts.

Board of Governors

The leading body of the Federal Reserve System, responsible for overseeing the Federal Reserve Banks and setting monetary policy.