Which of the following is considered part of GDP?
A) German-made car you bought at a local dealership
B) Jeans you bought at Goodwill
C) Stocks and bonds
D) Jeans you bought at Macy's
E) All of the above
Which of the following is NOT considered part of GDP?
A) an oil change from a car mechanic
B) a window washing from a housecleaning company
C) a sofa you bought at a garage sale
D) a sandwich bought in a cafeteria
E) none of the above
Suppose a sandwich maker pays $3 for tomatoes and lettuce, $1 for bread, and $2 for ham. She then sells each ham sandwich for $10. How much does each sandwich contribute to GDP?
[Discussion starter] True or False: If GDP is growing, a country's citizens must be better off.
[Discussion starter] True or False: Median household income and GDP per capita always move together (e.g., if one goes up, the other also goes up).