A Set of Tires Installed on a Vehicle in an Automobile

question 115

Multiple Choice

A set of tires installed on a vehicle in an automobile factory is counted as:

• A) a final good and its market price is part of GDP.
• B) a final good and its market price is not part of GDP.
• C) an intermediate good and its market price is part of GDP.
• D) an intermediate good and its market price is not part of GDP.

---

Definitions:

Trust's Principal

The original assets placed into a trust by the grantor, excluding any income or appreciation generated by those assets.

Investment Costs

Investment costs include all the expenses associated with acquiring an asset, including purchase price, broker fees, setup costs, and any other costs necessary to bring the asset to a usable state.

Property Taxes

Taxes assessed on real estate by local government, based on the property's value.

Executor's Accounting

The financial reporting and record-keeping process conducted by an executor of an estate to track assets, liabilities, and distributions to beneficiaries.