Which of the following is not a component of gross domestic product?
A) net exports
B) government purchases
C) purchases by consumers of used goods
D) purchases by consumers of finished goods

Question

Quizplus · Accepted Answer

Gross domestic product (GDP) is the sum of all final goods and services produced within a country's borders in a given time period. Net exports (exports minus imports), government purchases (goods and services purchased by the government), and purchases by consumers of finished goods (newly produced goods and services) are all components of GDP. However, purchases by consumers of used goods are not included in GDP because they were already counted in previous periods when they were first produced and sold as new goods.

Which of the Following Is Not a Component of Gross