Which of the following is considered a service in the calculation of GDP?
A)Manufacturing reclining chairs.
B)Constructing new homes.
C) Tax preparation.

Question

Quizplus · Accepted Answer

Tax preparation is a service as it involves providing a professional service to clients rather than producing a physical product. A and B involve the production of physical goods (a chair, a home) and would be included in the calculation of GDP as part of the manufacturing or construction sectors, respectively.

Which of the Following Is Considered a Service in the Calculation