Instead of taking the dirty laundry with you when you go back to visit your parents,you use a Laundromat.Your use of the Laundromat means that
A)GDP will decrease and the country's standard of living will fall.
B)your parents' contribution to GDP will increase.
C)GDP will remain the same.
D)what you paid for use of the Laundromat will be included in GDP.
E)real GDP does not change because the clothes are still being laundered but nominal GDP rises since you are now paying for the service.

Question

Quizplus · Accepted Answer

Using the Laundromat means that you are paying for a service, which is considered a final good or service in the economy. Therefore, the payment you make for the service at the Laundromat will be included in GDP, increasing it by the amount you paid. However, the other options are incorrect as they do not accurately reflect the impact of using a Laundromat on GDP.

Instead of Taking the Dirty Laundry with You When You