Answered: Why the following are not counted in…

Why the following are not counted in the GDP.intermediate goods,transfer payments, used goods ,non market activities and illegal goods and services

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter11: Gross Domestic Product

Section: Chapter Questions

Problem 2SQ

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The GNP of a country is $200 billion, receipts of factor income from the rest of the world are $10 billion, payments of factor income to the rest of the world are $30 billion, and depreciation is $25 billion. What is the GDP and the Net National Product?
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What describes as Gross Domestic Product of a country?
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Which of these will be a part of the gross domestic product? a. Income from this year’s final output b. Income of citizens from abroad c. Income from selling second hand items d. Income from illegal activities