Question

Examples: included in GDP? • Interest on an Apple bond • Social security payments received by a retired worker Unpaid services of a family member for repainting the house • The income of a lawyer • The money received by student when she sells her economics textbook back to the bookstore • The monthly allowance a college student receives from her parents • Rent paid to the landlord by a student • The money received by a student when she resells her car after graduation An increase in business inventories • The purchase of 1 share of Apple common stock • The purchase of an insurance policy

Please determine if each question is included in GDP or not. Thank you.

Answer 1

1 - Included as operating surplus

2 - Included for the amount credited by employer

3 - Not included

4 - Included

5 - not included as the book is not a new one

6 - not included

7 - included as rent paid

8 - not included as there is not a new car

9 - included

10 - not included

11 - not included