In Measuring GDP,which of the Following Is Included

question 74

Multiple Choice

In measuring GDP,which of the following is included?

• A)the value of preparing meals at home
• B)the value of stocks and bonds bought and sold
• C)the value of used goods when they are sold
• D)the value of increases in business inventories
• E)the value of durable consumption goods but not the value of nondurable consumption goods.

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Definitions:

Quality

Quality refers to the inherent or distinctive characteristics or properties of a product or service that determine its perceived value and reliability by the consumer.

Statute of Frauds

A legal principle that requires certain contracts to be in writing and signed by the parties involved to be enforceable.

Merchant

An individual or business entity engaged in the buying and selling of goods, especially with regards to the provisions of the Uniform Commercial Code (UCC) which define specific responsibilities and protections for merchants.

Memorandum

A written record or communication used in business or diplomatic contexts to outline agreements, policies, or other relevant information.