Which of the Following Is Included in GDP

question 11

Multiple Choice

Which of the following is included in GDP?

• A)the market value of rental housing services,but not the market value of owner-occupied housing services.
• B)the market value of owner-occupied housing services,but not the market value of rental housing services
• C)both the market value of rental housing services and the market value of owner-occupied housing services
• D)neither the market value of owner-occupied housing services nor the market value of rental housing services.

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Definitions:

Cheese

A dairy product derived from milk that is produced in a wide range of flavors, textures, and forms by coagulation of the milk protein casein.

Autarky

An economic system or policy of self-sufficiency where a country attempts to produce everything it needs without engaging in international trade.

Self-Sufficiency

The ability of an individual, community, or nation to provide for all of its needs without external assistance.

Economic Interaction

Economic interaction involves the exchange of goods, services, and resources among individuals, businesses, and governments within and across economies.