Which of the following items is excluded from GDP?
A) Services a barber performs in cutting hair
B) Production and sale of hair-cutting equipment
C) Services a barber performs in repairing his own hair-cutting equipment
D) The construction of a new barbershop

Question

Quizplus · Accepted Answer

Services a barber performs in repairing his own hair-cutting equipment are not included in GDP because they are not part of market transactions; GDP only includes goods and services that are bought and sold in the market.

Which of the Following Items Is Excluded from GDP