Which of the following transactions would be included in GDP for 2013? a. In February 2013,...

Which of the following transactions would be included in GDP for 2013?

a.	In February 2013, Amanda sold a 1996 Honda Accord to Isabella.
b.	In February 2013, Amanda bought a ticket to visit a zoo in Florida.
c.	In early November 2013, Isabella eats onions that she harvested from her backyard garden in late October 2013.
d.	All of the above are correct.

Expert Solution

b. In February 2013, Amanda bought a ticket to visit a zoo in Florida

reason: Amanda's expenditure of buying the ticket to the zoo is counted as somebody's income. As it is incurred in 2013, it is counted for GDP for 2013.

Sale of old car will not be counted as it was produced in 1996 and was counted for GDP that year. Similarly, consuming onions grown in her backyard is producing for self-consumption and not included in GDP.

Rahul Sunny answered 2 years ago

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