Which of the Following Is NOT Included in Real GDP

question 283

Multiple Choice

Which of the following is NOT included in real GDP?

• A) production of services, such as the services of hair dressers
• B) production of goods that last less than a year, such as production of hot dogs
• C) production that takes place in the underground economy
• D) production of goods that last more than a year, such as a pair of roller blades

Analyze the impact of government programs and taxes on income equality.

Explain the determination of the official poverty line and its implications.

Understand the requirements for a contract to be enforceable under the Statute of Frauds.

Distinguish between contracts that must be in writing and those that can be oral to be binding.

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Definitions:

Huckster

A person who sells or advertises something in an aggressive, dishonest, or annoying manner.

Ingratiation

A psychological tactic involving the use of flattery or other forms of social manipulation to gain favor or acceptance from others.

Personal Expertise

The unique skills, knowledge, and experience possessed by an individual in a particular field or area.

Credibility

The quality or state of being believable or trustworthy, often assessed based on past actions, reliability, and integrity.