Which of the Following Is Included in Determining GDP

question 6

Multiple Choice

Which of the following is included in determining GDP?

• A)the purchase of a new car
• B)the purchase of a used car
• C)a housewife preparing breakfast
• D)a gardener cans vegetables for consumption during the winter

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Definitions:

Default

Failure to fulfill an obligation, especially failure to meet a financial obligation or to appear in court when required.

Secured Party

An individual or entity that holds an interest, typically a security interest, in another's property as collateral for a debt.

Relinquish

To voluntarily give up or surrender a claim, right, or possession.

Security Agreement

A legal document that specifies the collateral for a secured loan, establishing the lender's rights to the secured property.