Which item would be included in the GDP accounts?
A) personal time spent learning how to use accounting software
B) personally rotating the tires on your neighbor's car
C) caring for your aged grandmother at home
D) paying a $50 consultation fee over the phone with a psychic adviser

Question

Quizplus · Accepted Answer

Only paying a fee for a service is included in the GDP as it represents a transaction that contributes to economic activity. Personal time spent on learning, doing favors for others, and caring for someone at home are not included in the GDP as they do not involve any economic transaction.

Which Item Would Be Included in the GDP Accounts