Which of the following will be included in the current year's gross domestic product (GDP)?
A)The sale price of equipment produced last year but sold this year
B)The money spent by Kate on the purchase of new furniture
C)The money spent by Barney on the purchase of his uncle's house
D)The sale price of the stock purchased by John
E)The opportunity cost of the time spent by Bruno cooking lunch for his neighbor

Question

Quizplus · Accepted Answer

Only the money spent by Kate on the purchase of new furniture will be included in the current year's GDP as it represents a final good or service produced within the country's borders and sold to a consumer. A, C, and D do not represent current year production of goods or services, and E does not represent a market transaction.

Which of the Following Will Be Included in the Current