Which of the Following Is Included in GDP Calculations

question 127

Multiple Choice

Which of the following is included in GDP calculations?

• A)​the college tuition paid to enroll in a course
• B)​a check for $50 received on your birthday
• C)​cash income received by a self-employed landscaper that is not reported to the IRS
• D)​sales revenue received from a yard sale

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Definitions:

Sherman Antitrust Act

A landmark federal statute passed in the United States in 1890 aimed at promoting economic competitiveness by prohibiting monopolies, cartels, and other forms of anticompetitive behavior.

Decreases Competition

When the number of competitors in the market diminishes, leading to less competition.

Robinson-Patman Act

A federal law in the United States designed to inhibit anticompetitive behaviors among producers by prohibiting price discrimination.

Cost Differences

Variations in the cost of producing or providing goods and services, often influenced by factors such as location, materials, and labor.