Which of the Following Is a Good or Service Counted

question 68

Multiple Choice

Which of the following is a good or service counted in GDP?

• A) tires Ford buys to put on a car
• B) a used tire you buy for your personal car
• C) a new tire you buy for your personal car
• D) used tires bought by a used car dealer to put on a car on his lot

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Definitions:

Revenues

The total amount of money received by a company for goods sold or services provided during a certain time period.

Household Consumers

Individuals or groups purchasing goods and services for personal use, not for manufacture or resale.

Full-Time Employees

Workers who are employed for the full number of hours defined as standard by their employer, often receiving full employment benefits.

Financial Year

A financial year is a 12-month period used for calculating annual financial statements in businesses and other organizations.