The Sale of a Used 1999 Automobile in 2009 Would

question 131

Multiple Choice

The sale of a used 1999 automobile in 2009 would not be included in 2009 GDP because it

• A)is a nonmarket transaction.
• B)would involve double counting.
• C)has already been accounted for.
• D)is a noninvestment transaction.

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Definitions:

Determinant Of Supply

A factor that influences the quantity of a good or service that producers are willing to offer for sale at a given price over a period.

Current Production

The total amount of goods and services produced by an economy or firm at the present time.

Canned Green Beans

A preserved food product consisting of green beans that are processed and sealed in an airtight container, which can be stored for long periods.

Complements

Products or services that complement each other, resulting in a rise in demand for one causing a corresponding increase in demand for the other.