An activity that would not be included in GDP would be:
A. a sweater you knit for your roommate for her birthday.
B. paying a company for cleaning your house.
C. getting tomatoes from your garden and making salsa with them.
D. None of these would be included in GDP.
Answer: B
You might also like to view...
Refer to the scenario above. Which of the following is likely to happen if the service center has a reputation of trustworthiness?
A) You will trust the mechanic and he will cooperate. B) You will trust the mechanic but he will defect. C) Neither of you will gain from trade. D) Only the mechanic will gain.
The three major components of a bond are the bond price, maturity date, and coupon rate.
Answer the following statement true (T) or false (F)
Firms in a perfectly competitive industry are producing goods efficiently in the long run if each is producing at the minimum point of the
A) AVC curve. B) MC curve. C) LAC curve. D) AFC curve.
If the nominal interest rate is 10% and the rate of inflation is 7%, what is the real rate of interest?
A. 2.8% B. 10.3% C. 7.0% D. 3.0%