Consider Two Items That Might Be Included in GDP: (1)the

question 47

Multiple Choice

Consider two items that might be included in GDP: (1) the estimated rental value of owner-occupied housing and (2) purchases of newly-constructed homes.How are these two items accounted for when GDP is calculated?

• A)Both item (1)and item (2)are included in the consumption component of GDP.
• B)Item (1)is included in the consumption component of GDP,while item (2)is included in the investment component of GDP.
• C)Item (1)is included in the investment component of GDP,while item (2)is included in the consumption component of GDP.
• D)Only item (2)is included in GDP,and it is included in the investment component.

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Definitions:

Strong Identity

A well-developed sense of self that is clearly defined, stable over time, and encompassing a wide array of personal values, beliefs, and experiences.

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A concept referring to individuals or groups that share equivalent positions in a social hierarchy based on factors like occupation, income, education, or social network.

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Digital platforms that connect individuals or groups, allowing them to share information, communicate, and sometimes collaborate virtually.

Social Relations

The interactions and connections between individuals and groups within a society, forming the basis of social structure.