Which of the following would be included in the calculation of the GDP for the year 2010?
A)Purchase of a 2004 model Volkswagen sedan in 2010
B)Swapping of baseball cards among two college students
C)Car repairs done by a person on his/her own
D)Fresh lemonade sold at a local diner
E)A lamp sold at a garage sale

Question

Quizplus · Accepted Answer

Fresh lemonade sold at a local diner would be included in the calculation of GDP as it represents final goods and services produced within the country's borders during a specified period.

Answer: A
 Purchase of a 2004 model Volkswagen sedan in 2010 would be included in the calculation of GDP as it represents a final good produced within the country's borders during the specified period.

The rest of the options would not be included in the calculation of GDP as they do not represent final goods or services produced within the country's borders. B represents swapping of goods, C represents non-market production, and E represents used goods.

Which of the Following Would Be Included in the Calculation