The value of the housing service provided to individuals who live in housing they own themselves is included in GDP by:
A) estimating the rental value of the housing
B) using the monthly mortgage payment
C) using the purchase price of the house
D) none of the above.Because the value cannot be measured directly, it is excluded.
Correct Answer:
Verified
Q18: Real GDP is the production of goods
Q19: According to the income-expenditure identity, the total
Q20: Nominal GDP always grows faster than real
Q21: Transfer payments are included under
A)consumption
B)investment
C)government purchases
D)none of
Q22: The four components of GDP are:
A)consumption, money
Q24: Real GDP is:
A)the production of goods and
Q25: Which of the following is not omitted
Q26: Statistics such as GDP, the unemployment rate,
Q27: David's Microchip Company (DMC) produces microchips for
Q28: Suppose GDP consists of wheat and rice.In
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents