Joyce is an accountant. Sarah, her hair stylist, cuts and perms her hair in exchange for having her taxes done. This is an example of an economic transaction that is NOT included in the national income and product accounts.

Question

Quizplus · Accepted Answer

This is an example of a barter transaction, which typically goes unreported and is not included in the calculation of national income and product accounts because no money changes hands.

Joyce Is an Accountant