Which of the Following Would Be Directly Counted in GDP

question 3

Multiple Choice

Which of the following would be directly counted in GDP in 2016?

• A)kitchen cabinets purchased from Home Depot in 2016 to be installed in a house built in 1997
• B)kitchen cabinets built in 1887,extracted from the 1887 home,and installed in a brand new country-style home
• C)kitchen cabinets built in 1887,extracted from the 1887 home,and installed in a farm house built in 1950
• D)none of the above

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Definitions:

Sample Correlation

A measure that indicates the degree to which two variables change together, based on data drawn from a sample of the population.

Test Statistic

A value calculated from sample data during a statistical hypothesis test to determine the p-value or to compare against a critical value.

Prediction Interval

An estimated range of values within which a future observation is expected to fall, with a certain probability.

Independent Variable

A variable in an experiment or model that is manipulated or changed to assess its effects on a dependent variable.