If You Mow the Lawn Yourself,the Lawn Mowing Is Considered

question 86

Multiple Choice

If you mow the lawn yourself,the lawn mowing is considered household production.If you pay Larry's Lawn Service to mow your lawn,the lawn mowing is considered

• A)a leisure time activity.
• B)a service,that will be counted as part of GDP.
• C)a service,but is not counted as part of GDP because it simply replaces a service you used to perform.
• D)rent,and therefore is counted as part of GDP.
• E)underground production because it replaces the underground production of you mowing your lawn.

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Definitions:

Specific Day

A precise date identified for a particular event or activity.

Gain Or Loss

A financial result that indicates the difference between the sale price of an asset and its original purchase price.

Functional Currency

The primary currency of the main economic environment in which an entity operates.

Asset And Liability Account Balances

The respective values of a company's current and non-current assets, and its current and long-term liabilities at a point in time.