Which of the following is included in the current calculations of GDP?

Question

Quizplus · Accepted Answer

GDP includes the consumption of goods and services, such as the purchase of pizza by college students. Volunteer work, welfare payments, and the purchase of second-hand items do not contribute directly to GDP. The purchase of a painting from a previous owner is considered a transfer of ownership and does not contribute to GDP unless it is part of a business transaction (such as the sale of artwork by an art gallery).

Which of the Following Is Included in the Current Calculations