Which of the Following Is Counted in GDP

question 45

Multiple Choice

Which of the following is counted in GDP?

• A)the value of goods and services produced in the underground economy
• B)the cost of a speed boat purchased by drug smugglers
• C)the value of do-it-yourself work
• D)the value of leisure

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Definitions:

Deep Depression

An extended period of significant decline in the economy, characterized by high unemployment, sharp decreases in output and trade, and widespread poverty.

Capacity Utilization Rate

A measure of how well an economy or a firm is using its productive capacity to manufacture goods or services.

Unemployment Rate

A gauge of the share of individuals in the labor pool who are not employed but are actively seeking a job.

Economy Operated

Refers to the manner in which a nation’s economic systems and policies are managed and function to produce goods and services.