Question

QUESTION 52 Which of the following would NOT be included in the GDP accounts? the value of time spent learning how to prepare your personal income tax return the value of the time a mechanic spends changing the battery of a customer's car the payment to a certified nursing assistant for caring for an aged relative in her home O the value of the gambling winnings that you declare on your tax return QUESTION 53 Which of the following activities is an example of a nonmarket transaction? hiring a maid to clean your home employing a lawn service worker to trim your bushes hiring a nanny to take care of your kids growing your own food in a vegetable garden

Answer 1

52. The value of time spent learning how to prepare your personal income tax return.

53. Growing your own food in a vegetable garden. This is a non-market transaction as it does not include currency changing hands.