Which of the following is included in GDP calculations?
A)the university tuition paid to enrol in a course
B)a cheque for $50 received on your birthday
C)sales revenue received from a yard sale
D)cash income received by a self-employed landscaper that is not reported to the Canada Revenue Agency

Question

Quizplus · Accepted Answer

University tuition paid is included in GDP calculations as it is a payment for a final good or service produced within the economy.

Answer: C 
 Sales revenue received from a yard sale is included in GDP calculations as it is considered a transaction in the informal economy.

It is worth noting that B and D are not included in GDP calculations as they are not transactions related to the production of final goods and services within an economy.

Which of the Following Is Included in GDP Calculations