The Purchase of Rice Produced This Period Is Included in GDP

question 84

Multiple Choice

The purchase of rice produced this period is included in GDP if the rice is

• A)used in a meal a restaurant sells during the same period they buy the rice.
• B)purchased by a family who uses it to make tuna casserole for its supper.
• C)purchased by a frozen food company to increase its inventory.
• D)B and C are correct.

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Definitions:

Rank-Order

A method of arranging data or participants based on their score or position relative to one another.

Individualistic

Emphasizing the moral worth of the individual and favoring freedom of action for individuals over collective or state control.

Hofstede

A Dutch social psychologist who developed a model identifying five dimensions of culture that help to understand differences in societies: power distance, individualism versus collectivism, masculinity versus femininity, uncertainty avoidance, and long-term versus short-term orientation.

Power Distance

Power distance refers to the extent to which less powerful members of institutions and organizations within a country expect and accept that power is distributed unequally.