Which of the following is not considered part of the services category under the expenditure approach to GDP accounting?
A)sporting events
B)haircuts
C)commercial airline transportation
D)privately owned jets

Question

Which of the following is not considered part of the services category under the expenditure approach to GDP accounting?
A)​sporting events
B)​haircuts
C)​commercial airline transportation
D)​privately owned jets

Quizplus · Accepted Answer

Privately owned jets are not considered part of the services category under the expenditure approach to GDP accounting. Services include activities or benefits that are intangible and do not result in the production of a physical product, such as sporting events, haircuts, and commercial airline transportation. Privately owned jets are considered a durable good and fall under the category of investment in fixed assets.

Which of the Following Is Not Considered Part of the Services