If Susan Switches from Going to Speedy Lube for an Oil

question 52

Multiple Choice

If Susan switches from going to Speedy Lube for an oil change to changing the oil in her car herself,then GDP

• A) necessarily rises.
• B) necessarily falls.
• C) will be unaffected because the same service is produced in either case.
• D) will be unaffected because car maintenance is not included in GDP.

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Definitions:

Video Games

Electronic games played through consoles, computers, or mobile devices, characterized by interactive gameplay and visual feedback.

Promise

A promise is a declaration or assurance that one will or will not do something, often creating an expectation or obligation.

Nominal Consideration

A very small or token amount paid in a transaction to make it legally valid, even though the actual value of the transaction may be much larger.

Freedom of Contract

The freedom to enter into and enforce contracts without unnecessary interference by the state.