Goods That Have Higher Prices Have Greater Weight in Calculated

question 126

True/False

Goods that have higher prices have greater weight in calculated GDP.

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Definitions:

Adequacy of Consideration

A legal principle assessing whether the value exchanged in a contract is reasonable and fair to both parties.

Breach-of-Contract

An act of breaking the terms set out in a contract, which can lead to legal consequences and damages.

Preexisting Duty Rule

A legal principle stating that performing a duty that one is already legally obligated to do is not sufficient consideration for a new contract.

Illusory Promise

A statement that appears to be a promise but does not actually bind the party to any commitment or obligation.