A Good That Would Be Counted as Consumption in GDP

question 35

Multiple Choice

A good that would be counted as consumption in GDP would be the:

• A) Subway sandwich Tony ate for lunch.
• B) $10 Tony received after winning a bet with his friend.
• C) $50 in wages Tony received that day from working all afternoon.
• D) common stock Tony purchased for his 401(k).

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Definitions:

Count of Cash

The process of physically verifying the amount of cash on hand at a particular time.

Days' Sales Uncollected

A financial metric that estimates the average number of days a company takes to collect revenue after a sale has been made.

Liquidity of Receivables

The ease with which accounts receivable can be converted into cash, reflecting the company's efficiency in managing credit sales.

Accounts Receivable

Financial obligations that clients have towards a company for goods or services delivered but still awaiting payment.