Which items are included in the calculation of GDP?

A. The Walt Disney stock you purchased with some birthday money you had saved up.
B. The 2023 Bronco you just received as a graduation present.
C. The Air Pods you bought off eBay last week. They had been purchased as a birthday gift, but the seller already had a pair.
D. The payment your Granny got from Social Security.
E. The new iPhone you had to get because you dropped yours in the pool.

Question

14-06-2024
Mathematics

Answered

Which items are included in the calculation of GDP?

A. The Walt Disney stock you purchased with some birthday money you had saved up.
B. The 2023 Bronco you just received as a graduation present.
C. The Air Pods you bought off eBay last week. They had been purchased as a birthday gift, but the seller already had a pair.
D. The payment your Granny got from Social Security.
E. The new iPhone you had to get because you dropped yours in the pool.

Answer :

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GinnyAnswer GinnyAnswer · Answer 1 · 2024-06-14T20:10:15-04:00

Final answer:

GDP includes hospital stays, licensed child care, and sales of new cars but excludes services without payment, changes in life expectancy, and certain goods.

Explanation:

Hospital stays are included in GDP as they represent a transaction for healthcare services provided. Child care from a licensed facility is also included as it involves a paid service. However, child care provided by a grandmother without payment would not be included. Used car sales are not part of GDP for the current year, while new car sales are included. Changes in life expectancy over time and variety of cheese available in supermarkets are not counted in GDP. Additionally, iron used in manufacturing a refrigerator is not counted as it is considered an intermediate good.

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