Which of the following would be included when calculating Gross Domestic Product?
A) the purchase of a previously owned house for $270,000
B) the purchase of a used $10,000 automobile from a friend
C) a Social Security check for $800
D) none of the above

Question

Quizplus · Accepted Answer

Gross Domestic Product (GDP) only includes the market value of final goods and services produced within a country's borders during a specified period of time. None of the options listed above meet these criteria as A is a previously owned house, B is a used automobile, and C is a transfer payment from the government, which does not represent a final good or service produced within the country.

Which of the Following Would Be Included When Calculating Gross