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Which of the following are production activities that are included in GDP? Which are not? a. Mr. King performs the service of painting his own house instead of paying someone else to do it. This activity is GDP b. Mr. King paints houses for a living. This activity is GDP c. Mrs. King earns income from parents by taking baby photos in her digital photography studio. This activity is GDP.

Which of the following are production activities that are included in GDP? Which are not? a. Mr. King performs the service of painting his own house instead of paying someone else to do it. This activity is GDP b. Mr. King paints houses for a living. This activity is GDP c. Mrs. King earns income from parents by taking baby photos in her digital photography studio. This activity is GDP.

MACROECONOMICS
MACROECONOMICS
14th Edition
ISBN:9781337794985
Author:Baumol
Publisher:Baumol
Chapter5: An Introduction To Macroeconomics
Section: Chapter Questions
Problem 3TY
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Which of the following are production activities that are included in GDP? Which are not? a. Mr. King performs the service of painting his own house instead of paying someone else to do it. This activity is GDP b. Mr. King paints houses for a living. This activity is GDP. c. Mrs. King earns income from parents by taking baby photos in her digital photography studio. This activity is GDP. d. Mrs. King takes digital photos of planets and stars as part of her astronomy hobby. This activity is GDP. e. E*Trade charges fees to process Internet orders for stock trades. This activity is GDP. f. Mr. Ho spends $10,000 on shares of stock via an Internet trade order. This activity is Mr. Ho pays a $10 brokerage fee. This activity is GDP g. Mrs. Ho receives an income support payment from the government. This activity is GDP. h. Ms. Chavez makes a $300 payment for an Internet-based course on stock trading. This activity is ▼ GDP. i. Mr. Langham sells a used laptop computer to his neighbour. This activity is GDP. GDP
Transcribed Image Text:Which of the following are production activities that are included in GDP? Which are not? a. Mr. King performs the service of painting his own house instead of paying someone else to do it. This activity is GDP b. Mr. King paints houses for a living. This activity is GDP. c. Mrs. King earns income from parents by taking baby photos in her digital photography studio. This activity is GDP. d. Mrs. King takes digital photos of planets and stars as part of her astronomy hobby. This activity is GDP. e. E*Trade charges fees to process Internet orders for stock trades. This activity is GDP. f. Mr. Ho spends $10,000 on shares of stock via an Internet trade order. This activity is Mr. Ho pays a $10 brokerage fee. This activity is GDP g. Mrs. Ho receives an income support payment from the government. This activity is GDP. h. Ms. Chavez makes a $300 payment for an Internet-based course on stock trading. This activity is ▼ GDP. i. Mr. Langham sells a used laptop computer to his neighbour. This activity is GDP. GDP
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