Transactions Involving Items Produced in the Past,such as the Sale

question 76

Multiple Choice

Transactions involving items produced in the past,such as the sale of a 5-year-old automobile by a used car dealership or the purchase of an antique rocking chair by a person at a yard sale,are

• A)included in current GDP because GDP measures the value of all goods and services sold in the current year.
• B)included in current GDP but valued at their original prices.
• C)not included in current GDP because it is difficult to determine their value.
• D)not included in current GDP because GDP only measures the value of goods and services produced in the current year.

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Definitions:

Gas Station

A retail establishment that sells fuel and often other goods and services to motor vehicle users.

Unreasonable Risk

Exposing individuals or groups to a level of danger or harm that is not justified by the potential benefits or is beyond what is considered acceptable under the circumstances.

Business Visitor

An individual entering a country for a short duration for business-related purposes that do not entail being part of the labor market there.

Invitee

A person who is invited onto a property for the benefit of the property owner or occupier, leading to a higher duty of care.