1. which of the following would be included in the GDP? a. entire value of a...
1. which of the following would be included in the GDP?
a. entire value of a used car your family purchased
b. the amount you received in your paycheck
c. weekly allowance your parents give you
d. the $50 you received for your birthday
Homework Answers
1. Ans - b. the amount you recieved in your paycheck
Explanation:
The paycheck is included in the GDP compensation of employees. While all other will not be included because:
a) entire value of the used car would be included in GDP ( in which year it is produced) not when the family purchased it.
c) weekly allowance is a unilateral transfer so will not include in GDP
d) $50 which we receive is also a unilateral transfer.
Add Answer to:
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Thank you.
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Please determine if each question is included in GDP or not.
Thank you.
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...
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