A Good Produced in 2009 and Held in Inventory Until

question 196

Multiple Choice

A good produced in 2009 and held in inventory until it is sold in 2010 would be included in which measure of GDP?

• A)Half the value in 2009 and half the value in 2010
• B)In 2010 GDP
• C)In both 2009 and 2010 GDP
• D)In 2009 GDP

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Definitions:

Semantics

The branch of linguistics and logic concerned with meaning, including the ways meaning is constructed in languages and interpreted by speakers and listeners.

Traditional Authority

The norm in tribal and feudal societies, involves rulers inheriting authority through family or clan ties. The right of a family or clan to monopolize leadership is widely believed to derive from the will of a god.

Tribal Societies

Societies organized primarily on kinship and lineage with social, economic, and political structures governed by traditions and customs.

Feudal Societies

Societies characterized by a hierarchical system of governance based on land ownership and service, prevalent in medieval Europe.