Which of the following is added to arrive at GDP?
a. The value of free household services provided by at home spouses rather than a paid cook, housekeeper, and baby sitter.
b. The value of unpaid volunteer time.
c. The unpaid services provided by the natural environment, such as breathable air.
d. Net exports.
Question 2
Which of the following market transactions of final goods and services are excluded from the computation of U.S. GDP?
a. Purchases of products such as wine, beer, hard liquor, and cigarettes.
b. Secondhand transactions, such as when a used car is sold.
c. New purchase that a resident of one state makes in a different state.
d. Purchases of necessities such as groceries and rent.
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