Asked by taylor christy on Apr 25, 2024
Which of the following is likely to be excluded from the gross domestic product (GDP) of a country?
A) The value of the drugs being sold in a vacant lot
B) The value of the drugs being sold in a pharmacy
C) A doctor treating a patient in a hospital
D) The value of a new house bought by an individual
E) The value of new furnitures bought by an individual
Gross Domestic Product
Often abbreviated as GDP, Gross Domestic Product measures the total economic output of a country, including the monetary value of all goods and services produced within its borders in a specific timeframe.
- Determine and clarify the constituent parts that are integral to or left out of the Gross Domestic Product.
Learning Objectives
- Determine and clarify the constituent parts that are integral to or left out of the Gross Domestic Product.