You hire some of your friends to help you move to a new house.You pay them a total of $200 and buy them dinner at Pizza Hut.Which of the following is true?
A) The $200 should be counted as part of GDP but not the dinner at Pizza Hut.
B) If your friends do not report the $200 on their tax forms,it becomes part of the underground economy.
C) The dinner at Pizza Hut should be counted as part of GDP,but not the $200.
D) Hiring your friends is an illegal activity and should not be counted in GDP.
E) Neither the $200 nor the dinner should be counted in GDP because both are household production.
Correct Answer:
Verified
Q211: Q212: The value of leisure time is Q213: A country with a real GDP per Q214: In a small country,using prices of 2012,GDP Q215: Janet calculated the GDP growth rates for Q217: Using the chained-dollar method to calculate real Q218: Depreciation is Q219: Using prices from 2012,GDP grew 10 percent Q220: Real GDP measures the value of goods Q221: If both the production of goods and
A)included in
A)fall in the value of an
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