A Farmer Buys a New Tractor from John Deere to Use

question 288

Multiple Choice

A farmer buys a new tractor from John Deere to use on her cotton farm. This tractor is included in GDP as

• A) part of gross private domestic investment.
• B) a durable consumption good.
• C) a service.
• D) a nondurable consumption good.

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Definitions:

Perfect Correlation

A statistical relationship where two variables move in sync, either always increasing or decreasing together, represented by a correlation coefficient of +1 or -1.

Negative Correlation

A relationship between two variables in which one variable increases as the other decreases.

Outdoor Activities

Recreational or leisure activities that take place in natural settings, promoting physical health and well-being.

Video Games

Electronic games played through various devices, providing entertainment and sometimes educational content through interactive digital environments.