Which of the following activities would be included in GDP?
A. You pay a friend $30 to bake a cake.
B. You buy a cake from a local bakery for $30.
C. You bake a cake for yourself.
D. All of these would be included in GDP.
Answer: B
Economics
You might also like to view...
Which of the following is not directly counted in GDP?
A) investment expenditures B) consumer goods C) government purchases D) intermediate goods
Economics
Which of the following is NOT true of a perfectly competitive firm?
A. It sells only a small fraction of the total quantity exchanged in the market. B. It seeks to maximize revenue. C. It faces a perfectly elastic demand curve. D. It is unable to influence the price of the good it sells.
Economics