Estimates of the Values of Which of the Following Non-Market

question 2

Multiple Choice

Estimates of the values of which of the following non-market goods or services are included in GDP?

• A)unpaid housework but not the rental value of owner-occupied homes.
• B)the rental value of owner-occupied homes but not unpaid housework.
• C)unpaid housework and the rental value of owner-occupied homes.
• D)Neither unpaid housework nor the rental value of owner-occupied homes.

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Definitions:

Resale Products

Goods purchased with the intention of selling them to another party, often at a markup, without significant modification.

Commodities

Basic goods used in commerce that are interchangeable with other goods of the same type, often used as inputs in the production of other goods or services.

Wares

Products or goods that are available for sale.

Consumer Reports

A nonprofit organization that provides reviews and comparisons of consumer products and services based on testing and research.