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15 August, 01:33

Indicate whether the following economic activities would be included or excluded from this years GDP. - An Unemployment Payment

-Child Care services at "the children's garden"

-A school loan from the government

-Broker fee's

-An inheritance

-A house built in December last year and sold in February this year

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  1. 15 August, 03:35
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    Inclusion list for the year GDP:

    1) An Unemployment Payment

    2) Child Care services at "the

    children's garden

    3) A school loan from the government

    4) Broker fee's

    Exclusion List for the year GDP

    -An inheritance

    -A house built in December last year and sold in February this year

    Explanation:

    From the definition and meaning of Gross Domestic Product (GDP) is the monetary value of all final goods and services produced within a country in a given year. GDP pertains to counting of the production of millions of different goods and services - such as phones, machines, music instruments, computers and computer accessories, money spent on educations, including all other new goods and services produced in the current year.

    So from the definition and meaning of GDP, the inclusion list above are government spending, services rendered within a given year are to come under GDP for the current year while inheritance and a house built in December last year and sold in February this year are not to be included.
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