2. Which of the following are included in GDP and which are not? If an item is i

Question

2. Which of the following are included in GDP and which are not? If an item is included, state which GDP category it falls under (consumption, investment, government, trade balance) a) the cost of having your appendix removed b) buying a new car from a dealership c) buying a used car from your neighbor d) the lettuce sold to the sub shop that will go on your sandwich e) babysitting services at a licensed day care provider f) babysitting services provided by your cousin g) a 2 year increase in life expectancy

Explanation / Answer

Ans

1 yes because it is consumption of service

2 Yes consumption of goods

3 No. It is part of previous year

4 no its intermediate good

5 yes

6 No

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