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Detailed Explanation of GDP Components
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Problem 1
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Problem 3
Problem 4
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Problem 6
Problem 7
Problem 8
Problem 9
Problem 10
Detailed Explanation of GDP Components
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10. Measuring National Output and Income / Detailed Explanation of GDP Components / Problem 9
Problem 9
Which of the following statements correctly classifies goods based on their expected lifespan?
A
Food is a durable good because it lasts more than 3 years.
B
A washing machine is a non-durable good because it lasts less than 3 years.
C
Shoes are non-durable goods because they typically last less than 3 years.
D
A car is a non-durable good because it lasts less than 3 years.
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