Which of the Following Transactions Would Be Included in the Official

question 65

Multiple Choice

Which of the following transactions would be included in the official calculation of GDP?

• A) A student buys a used textbook at the bookstore.
• B) Bridgestone sells $2 million worth of tyres to General Motors Holden.
• C) You buy a new iPod.
• D) You illegally download music off the internet to put on your new iPod.

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Definitions:

Creditor Beneficiaries

A creditor beneficiary is a third party that benefits from a contract wherein the promisor agrees to pay the promisee's debt to the third party.

Assignment of Rights

The transfer of legal rights from one party to another, often involving debts or benefits under a contract.

Assignment of Duties

The process of allocating responsibilities and tasks to individuals or groups in an organization.

Breach of Contract

The failure or refusal of a party to fulfill its obligations as outlined in a mutually agreed-upon legal document.