Which of the following transactions would most likely be included in a gross domestic product (GDP)...

Which of the following transactions would most likely be included in a gross domestic product (GDP) output calculation:

A stay at home mother caring for her children
A gallon of tap water consumed
Raw materials sold to a steel mill

Solutions

Expert Solution

In the given options, Raw Material sold to steel mill generates taxes and revenue and this actually adds on value to the country's output and therefore this is included in the GDP. Staying at home caring for a children and consuming a gallon of water doesn't add vue to the economy on the whole and therefore

Rahul Sunny answered 1 year ago

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