Activities That Are Directly Included in GDP Accounts Include

question 37

Multiple Choice

Activities that are directly included in GDP accounts include:

• A) the value of housework done by householders.
• B) the selling of illegal drugs.
• C) unreported labor in sweatshops.
• D) buying a ticket to a Dodgers-Expos game on your day off.

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Definitions:

Industry Concentration

The extent to which a small number of firms dominate the total output, sales, or employment of an industry.

R&D Expenditures

Funds allocated towards research and development activities in order to innovate or improve products, processes, or services.

Diffusion

The process by which an innovation is communicated through certain channels over time among the members of a social system.

Commercial Introduction

The phase in which a new product or service is introduced to the general market.