If U.S. consumers become more optimistic about their future income and wealth, the consumption function will shift upward

Which one of the following transactions in a particular year is included in gross domestic product for that year?

A) Social Security payments to retirees B) The government pays a computer services company that assisted in the delivery of Social Security payments to retirees. C) A car is produced in the previous year and remains in inventory for the entire year under consideration. D) A stay-at-home parent performs housework that the family would otherwise have paid a maid $20,000 a year to perform.

Real GDP does not show the state of economic welfare in a country in part because GDP omits

I. household production. II. leisure time available. III. the quality of the environment. A) I only B) I and III C) II and III D) I, II and III