Which of the following are production activities that are included in GDP? Which are not? Explain why or why not a. Mr. King performs the service of painting his own house instead of paying someone else to do it. b. Mr. King paints houses for a living. c. Mrs. King earns income from parents by taking baby photos in her digital photography studio.
Which of the following are production activities that are included in GDP? Which are not? Explain why or why not
a. Mr. King performs the service of painting his own house instead of paying someone else
to do it.
b. Mr. King paints houses for a living.
c. Mrs. King earns income from parents by taking baby photos in her digital photography
studio.
d. Mrs. King takes photos of planets and stars as part of her astronomy hobby.
e. E*Trade charges fees to process Internet orders for stock trades.
f. Mr. Ho spends $10,000 on shares of stock via an Internet trade order and pays a $10
brokerage fee.
g. Mrs. Ho receives a Social Security payment.
h. Ms. Hernandez makes a $300 payment for an Internet-based course on stock trading.
i. Mr. Langham sells a used laptop computer to his neighbor. Briefly explain your answer.
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