Which of the Following Is Not Considered Part of the Services

question 29

Multiple Choice

Which of the following is not considered part of the services category under the expenditure approach to GDP accounting?

• A)​sporting events
• B)​haircuts
• C)​commercial airline transportation
• D)​privately owned jets

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Definitions:

Entrepreneurial Activity

The act of starting new businesses, initiating innovations, and introducing new products or services to the market, often seen as a driver of economic growth.

Import Substitution

A policy aimed at encouraging domestic production of goods that were previously imported.

Labor-intensive Production

A production process that relies more heavily on human labor than on technology or machinery, often characteristic of industries that require skilled workers.

Human Capital Shortages

A situation where there is a lack of adequately skilled or qualified individuals in the workforce to meet the demands of the job market.