A Good Is Produced by a Firm in 2007,added to the Firm's

question 181

Multiple Choice

A good is produced by a firm in 2007,added to the firm's inventory in 2007,and sold to a household in 2008.As a result,on net,

• A) 2007 GDP increased and 2008 GDP decreased.
• B) 2007 GDP decreased and 2008 GDP increased.
• C) 2007 GDP did not change and 2008 GDP increased.
• D) 2007 GDP increased and 2008 GDP did not change.

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Definitions:

Traditionally Segregated

Refers to the separation or division of groups, processes, or things based on traditional factors or historical practices.

Social Security

A government system that provides financial assistance to people with an inadequate or no income, particularly during retirement, disability, or unemployment.

Major Benefit Programs

Refers to government-sponsored programs designed to provide assistance or benefits to specific groups, such as retirees, the disabled, and the unemployed.

Medicare

A federal health insurance program in the United States mainly for people aged 65 and older, as well as for some younger people with disabilities.