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Which of the following are actually included in GDP and/or NI? If not counted, explain whether it should be, or simply cannot be. If it is counted, explain what kind of spending and/or what kind of income it is.
a) Social security payments received by a retired factory worker.
b) US government leases land for an army training center
c) Ford motor company buying tires to put on its new cars.
d) Wages paid to a domestic servant.
e) The market value of a homemaker's services.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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