The GDP of the United States in 2014 Was Around

question 78

Multiple Choice

The GDP of the United States in 2014 was around $17.4 trillion. This means

• A) that the value of output produced in the U.S. in 2014 was around $17.4 trillion.
• B) that total income in the U.S. in 2014 was more than $17.4 trillion.
• C) that total spending in the U.S. in 2014 was more than $17.4 trillion.
• D) that the value of output produced by U.S.-owned resources was less than $17.4 trillion.

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Definitions:

Blackmails

The act of demanding payment or another benefit from someone in return for not revealing compromising or damaging information about them.

Voidable

A term referring to a legal agreement or transaction that is valid but may be annulled by one of the parties involved.

Mutual Mistake

A situation in a contract where all parties have a shared misunderstanding regarding a fundamental fact or factor in the agreement.

Fraudulent Misrepresentation

A false statement made knowingly or recklessly with the intent to deceive, leading another to enter into an agreement or suffer a loss.