Conclusion 12. (a) Banking (b) Bee keeping (c) Teaching (d) Working in a call centre (b) Bee keeping 21. Social Security payments received by a retired factory worker. d. the sale of an ice cream cone. * Intermediate goods - These are goods or services used in the production of a final good or service. 5. Measuring Total Output 1. that's not right. The Balance of Payments 44. e. Burglary. If not counted, explain whether it should be, or simply cannot be. 38. Households’ activities of a housewife. Not counted in GDP 5.2 This question tests your knowledge of what activities are included in calculating GDP. GNP/GDP (Macroeconomics) > 15.0 GNP/GDP Quiz Social Studies & History 9-12, College/Adult GNP/GDP Quiz Which of the following lists of goods and services would be included in calculating GNP? (ii) Salaries of Indian employees working in embassy of Japan in India. The cost of hospital stays b. Asymmetric Information 42. Counted as part of consumption B. Money laundry. 3. b. Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a specific time period. 11. Capital Formation - Technical Progress 40. Which of the following are production activities that are included in GDP? Which of the following activities are not included in GDP (note - all activities occurred during the period in which GDP is being measured): a. Which of the following activities are not included in the underground economy? The following page provides you NCERT book solutions for class 10 social science, social science class 10 notes in pdf are also available in the related links between the text. D. Working in the coal mining industry. The income of a dentist 2. c. Mrs. King earns income from parents by taking baby photos in her home photography studio. Which of the following are included and which are excluded in calculating this year’s GDP? imputed rent is not included in national income! Interest earned against foreign securities 4. This question tests your knowledge of what activities are included in calculating GDP. Give reasons for your answer. d. Purchasing plastic surgery. Primary sector economic activity such as cultivation… Read … it's a hypothetical figure and it would be silly to include it in national accounting books. Interest on an AT&T corporate bond. b. Mr. King paints houses for a living.This activity is included in GDP. Money received by Sana when she sells her Economics book to a book buyer. c. The unpaid services CHAPTER-2 Sectors of the Indian Economy SECTORS OF ECONOMIC ACTIVITIES VERY SHORT ANSWERS:- 1.Give one example of major economic activity. More broadly, accounting for the activities of the financial sector is one of the Social security payment received by a retired factory worker. Solution for Which of the following are included in GDP, and which are not? b. the value of a new car. Which of the following are included and which are excluded in calculating GDP? Play this game to review Economics. 4. Trade Policies For the Developing Nations 43. Following option are included in US GDP.Any activities that create value are added to GDP A Coco cola built bottling plant. Which are not? As such, capital gains on existing assets play no role in GDP accounting. b. a. Alternative Theories Of The Firm 41. You'll be asked to identify items that are included in the GDP calculation. Which of the following activities would be included in the calculation of GDP for the United States? a) Social security payments received by … Which one of the following economic activities is not in the tertiary sector? Underground Economy The underground economy is the sector that includes profitable illegal activities, such as human trafficking, illegal immigration, gambling, extortion and drug trade. All of the following are included in GDP EXCEPT a. the income from a garage sale. It does not take into account nonmarket transactions. GDP is a measure of the production of new goods and services. Which of the following activities can be included in the calculation of GDP. We made it much easier for you to find exactly what you're looking for on Sciemce. For additional activities and resources, see the links in this article. Rent received on a two-bedroom house. Explain your answer in each case. Which of the following would NOT be included in GDP? A monthly check … Enjoy our search engine "Clutch." Counted as part of net exports C. Explain in each instance. 1. In this set, 11 important questions based on India's Gross Domestic Product (GDP… A) firms' purchases of new equipment B) intermediate goods and services C) consumption of The new GDP calculations will see the UK factor in the proceeds from prostitution and illegal drug sales. (iii) Salary of residents of Japan working in Indian embassy in Japan. Drug trafficking. The rise in life expectancy over time c. Child care… C. Illegal gambling. The National Economy Which of the following are production activities that are included in GDP? The EU is following a ‘best practices’ directive which was set out by the United Nations in 2008, although the figures across Europe will undoubtedly be difficult to calculate and standardise. B. Goodyear Tire Company manufactures 250,000 tires. Life expentancy2. Ans. answer choices haircut at Fantastic Sams Buying 1,000 $ of Fantastic Sams Stock Buying shampoo at Fantastic Sams haircut at … Education3. c. the value of a new house. Illegal drug dealing. In a similar fashion, housework performed by members of the household is not included in the GDP, even though the same work, when performed by paid house cleaners, is. Click hereto get an answer to your question ️ Which of the following items are included in the Human Development Index?1. a. Mr. King performs the service of painting his own house instead of paying someone else to do it.This activity is excluded in GDP. Q. If it is counted, explain what kind of spending and/or what kind of income it is. a. Which of the following is included as an addition to the GDP of country of X during the 2015 year? Income from illegal activities are not included in the GDP, and hence GDP understates actual economic activities. you need to understand fully what each mean. GDP has several shortcomings when measuring the economy's performance. Which are not? A. A. Texas Instruments produces computer chips at a manufacturing facility in Indonesia. Decide for each item whether it is part of GDP and, if so, to which expenditure category it belongs The cost of launching a space shuttle by NASA is: A. To assess or close the discussion , have students complete Activity 1, “Components of GDP For example, unpaid work (such as that performed in the home or by volunteers) and black-market activities are not included because they are difficult to measure and value accurately. So if a German-owned company has a factory in the United States, the output of this factory would be included in U.S. GDP, but in German GNP. c. Prostitution. They are not excluded because they are immoral, but the amounts are not reported. Comparative GDP 39. a. Mr. King performs the service of painting his own house instead of paying someone else to do it. Which of the following are actually included in GDP and/or NI? 31) Prices for which of the following are included in the GDP deflator, but not included in the Consumer Price Index? Which of the following are included in this year’s GDP? Decide for each item whether it is part of GDP and, if so, to which expenditure category it belongs.Purchase of 100 shares of General Motors b. Not all productive activity is included in GDP. 6. a. Sugar is both a final good (sold directly to consumers) and an intermediate good (sold to Click hereto get an answer to your question ️ How will you treat the following in the calculation of Gross Domestic Product of India? (i) Profits earned by a branch of foreign bank in India. The following are excluded. E. Working while collecting unemployment benefits. GDP per capita (PPP US )4. 1. Explain your decisions. Many questions related to India's economy are asked in almost every competitive exam held in India. The $20,000 profit I made by selling my home. B. Moonlighting. About This Quiz & Worksheet This quiz/worksheet combo will test your knowledge of gross domestic product (GDP). All About GDP Part A Is This Counted as Part of GDP? counted) in GDP and related to their cards. 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