Question : Which of the following is NOT included in the calculation of GDP?
Option 1: Intermediate goods
Option 2: Final goods
Option 3: Value of exports
Option 4: Value of imports
Correct Answer: Value of imports
Solution : The correct answer is (d) Value of imports.
However, the value of imports is not included in the calculation of GDP. Imports represent goods and services produced in other countries and purchased by the domestic economy. GDP measures the production that occurs within a country's borders, so imports are not counted in order to avoid double-counting.
Question : Which of the following is not included in the calculation of GDP?
Option 1: Exports
Option 2: Imports
Option 3: Government purchases of goods and services
Option 4: Transfer payments
Question : Which of the following is included in the gross domestic product (GDP) calculation?
Option 1: The value of intermediate goods
Option 2: The value of final goods and services
Option 3: The value of second-hand goods
Option 4: The value of capital gains
Question : Which of the following is included in the calculation of GDP?
Option 2: Final goods and services
Option 3: Secondhand goods
Option 1: Government purchases of goods and services
Option 2: Consumer spending on durable goods
Option 3: Net exports
Option 1: Net exports
Option 2: Government purchases of goods and services
Option 3: Consumer spending on non-durable goods
Option 4: Capital gains
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