Which of the Following Transactions Is Included in Gross Domestic

question 217

Multiple Choice

Which of the following transactions is included in Gross Domestic Product?

• A) a Social Security check received by a retired couple
• B) a gift card that a mother gives her son
• C) a used textbook that one student gives another student in exchange for an iPod
• D) tips received by a waitress who reports them to the IRS

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Definitions:

Tons

A unit of weight equal to 2,000 pounds in the United States (short ton) or 2,240 pounds in the UK (long ton), often used to measure heavy commodities.

Bottles

Containers with a neck that are narrower than the body and are often used to store liquids.

Existing Resources

The currently available inputs, including labor, capital, and raw materials, used for production in the economy.

Increase Resources

The act of augmenting the inputs or assets available for the production of goods and services.