The value of unpaid work by a homemaker _________ included in GDP and value of housekeeping services sold in the market _________ included in GDP.
A) is;is not
B) is;is
C) is not;is not
D) is not;is
E) is sometimes;is

Question

Quizplus · Accepted Answer

According to the traditional definition of GDP, only market transactions are included in the calculation. Unpaid work by a homemaker is not included in GDP because there is no market exchange involved. However, the value of housekeeping services sold in the market is included in GDP because it is a market transaction. Therefore, option D is the correct choice.

The Value of Unpaid Work by a Homemaker _________ Included