Asked by
Thea Shandy Camus
on Oct 13, 2024
Verified
Which one of the following is taken into account by GDP?
A) Household production
B) Illegal production
C) Leisure time
D) Custom lawn care services
Household Production
Goods and services produced by members of a household, for their own consumption, without involving market transactions.
Illegal Production
The manufacture or production of goods and services that is not authorized by law, typically involving prohibited items or without necessary permits.
- Identify which components are included and excluded in the calculation of GDP.
Verified Answer
GS
Learning Objectives
- Identify which components are included and excluded in the calculation of GDP.