Which of the following is included in Australia's GDP?
i. The rental value of homes owned by Australian citizens
ii. The production of Cotton On t-shirts by their suppliers in India
iii. Tickets sold by Bruno Mars for concerts held in Sydney
A) i and iii
B) i only
C) i, ii and iii
D) ii and iii
E) ii only

Question

Quizplus · Accepted Answer

i. The rental value of homes owned by Australian citizens is included in Australia's GDP as it represents the imputed rent of owner-occupied properties, which is a part of the housing services in the economy. iii. Tickets sold by Bruno Mars for concerts held in Sydney are included in Australia's GDP because they represent services provided within the country, regardless of the nationality of the performer. ii. The production of Cotton On t-shirts by their suppliers in India is not included in Australia's GDP because it is produced outside of Australia; only the value added within Australia (such as retail markup) would be included.

Which of the Following Is Included in Australia's GDP