Click hereto get an answer to your question ️ How will you treat the following in the calculation of Gross Domestic Product of India? * Intermediate goods - These are goods or services used in the production of a final good or service. Which are not? b. the value of a new car. A. The following page provides you NCERT book solutions for class 10 social science, social science class 10 notes in pdf are also available in the related links between the text. Which of the following activities are not included in GDP (note - all activities occurred during the period in which GDP is being measured): a. (ii) Salaries of Indian employees working in embassy of Japan in India. Explain your decisions. Click hereto get an answer to your question ️ Which of the following items are included in the Human Development Index?1. imputed rent is not included in national income! Not all productive activity is included in GDP. Which of the following are production activities that are included in GDP? Following option are included in US GDP.Any activities that create value are added to GDP A Coco cola built bottling plant. Not counted in GDP 5.2 This question tests your knowledge of what activities are included in calculating GDP. Which one of the following economic activities is not in the tertiary sector? CHAPTER-2 Sectors of the Indian Economy SECTORS OF ECONOMIC ACTIVITIES VERY SHORT ANSWERS:- 1.Give one example of major economic activity. Illegal drug dealing. Explain your answer in each case. The National Economy This question tests your knowledge of what activities are included in calculating GDP. The income of a dentist 2. Which of the following are production activities that are included in GDP? Interest earned against foreign securities 4. a) Social security payments received by … b. Mr. King paints houses for a living.This activity is included in GDP. A) firms' purchases of new equipment B) intermediate goods and services C) consumption of The Balance of Payments 44. c. Mrs. King earns income from parents by taking baby photos in her home photography studio. counted) in GDP and related to their cards. GDP has several shortcomings when measuring the economy's performance. Which of the following activities can be included in the calculation of GDP. 3. b. Alternative Theories Of The Firm 41. Rent received on a two-bedroom house. Solution for Which of the following are included in GDP, and which are not? To assess or close the discussion , have students complete Activity 1, “Components of GDP Life expentancy2. Measuring Total Output 1. Primary sector economic activity such as cultivation… Read … c. the value of a new house. For example, unpaid work (such as that performed in the home or by volunteers) and black-market activities are not included because they are difficult to measure and value accurately. If it is counted, explain what kind of spending and/or what kind of income it is. The rise in life expectancy over time c. Child care… Many questions related to India's economy are asked in almost every competitive exam held in India. In this set, 11 important questions based on India's Gross Domestic Product (GDP… you need to understand fully what each mean. Give reasons for your answer. (a) Banking (b) Bee keeping (c) Teaching (d) Working in a call centre (b) Bee keeping 21. Income from illegal activities are not included in the GDP, and hence GDP understates actual economic activities. Comparative GDP 39. Which of the following would NOT be included in GDP? Counted as part of consumption B. c. The unpaid services All About GDP Part A Is This Counted as Part of GDP? GNP/GDP (Macroeconomics) > 15.0 GNP/GDP Quiz Social Studies & History 9-12, College/Adult GNP/GDP Quiz Which of the following lists of goods and services would be included in calculating GNP? D. Working in the coal mining industry. Which of the following activities are not included in the underground economy? Which of the following are included in this year’s GDP? A monthly check … GDP per capita (PPP US )4. Ans. Decide for each item whether it is part of GDP and, if so, to which expenditure category it belongs.Purchase of 100 shares of General Motors a. Households’ activities of a housewife. a. Mr. King performs the service of painting his own house instead of paying someone else to do it.This activity is excluded in GDP. If not counted, explain whether it should be, or simply cannot be. It does not take into account nonmarket transactions. Which of the following are included and which are excluded in calculating this year’s GDP? Sugar is both a final good (sold directly to consumers) and an intermediate good (sold to The cost of hospital stays b. Social security payment received by a retired factory worker. 4. it's a hypothetical figure and it would be silly to include it in national accounting books. d. the sale of an ice cream cone. In a similar fashion, housework performed by members of the household is not included in the GDP, even though the same work, when performed by paid house cleaners, is. Which of the following is included as an addition to the GDP of country of X during the 2015 year? You'll be asked to identify items that are included in the GDP calculation. We made it much easier for you to find exactly what you're looking for on Sciemce. They are not excluded because they are immoral, but the amounts are not reported. Interest on an AT&T corporate bond. The EU is following a ‘best practices’ directive which was set out by the United Nations in 2008, although the figures across Europe will undoubtedly be difficult to calculate and standardise. a. 5. Social Security payments received by a retired factory worker. A. Texas Instruments produces computer chips at a manufacturing facility in Indonesia. More broadly, accounting for the activities of the financial sector is one of the E. Working while collecting unemployment benefits. C. Illegal gambling. (iii) Salary of residents of Japan working in Indian embassy in Japan. Money laundry. Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a specific time period. Underground Economy The underground economy is the sector that includes profitable illegal activities, such as human trafficking, illegal immigration, gambling, extortion and drug trade. Money received by Sana when she sells her Economics book to a book buyer. b. (i) Profits earned by a branch of foreign bank in India. The new GDP calculations will see the UK factor in the proceeds from prostitution and illegal drug sales. b. 38. Infant mortalitySelect the correct answer using the codes given below. Enjoy our search engine "Clutch." 1. Which of the following activities would be included in the calculation of GDP for the United States? Which of the following are included and which are excluded in calculating GDP? Asymmetric Information 42. Counted as part of net exports C. Trade Policies For the Developing Nations 43. answer choices haircut at Fantastic Sams Buying 1,000 $ of Fantastic Sams Stock Buying shampoo at Fantastic Sams haircut at … 6. The $20,000 profit I made by selling my home. 1. that's not right. Drug trafficking. Which are not? As such, capital gains on existing assets play no role in GDP accounting. Conclusion 12. 11. c. Prostitution. Which of the following are actually included in GDP and/or NI? Capital Formation - Technical Progress 40. The following are excluded. Education3. B. Goodyear Tire Company manufactures 250,000 tires. B. Moonlighting. e. Burglary. Explain in each instance. GDP is a measure of the production of new goods and services. a. a. Mr. King performs the service of painting his own house instead of paying someone else to do it. So if a German-owned company has a factory in the United States, the output of this factory would be included in U.S. GDP, but in German GNP. 31) Prices for which of the following are included in the GDP deflator, but not included in the Consumer Price Index? About This Quiz & Worksheet This quiz/worksheet combo will test your knowledge of gross domestic product (GDP). Play this game to review Economics. For additional activities and resources, see the links in this article. Decide for each item whether it is part of GDP and, if so, to which expenditure category it belongs The cost of launching a space shuttle by NASA is: A. Q. All of the following are included in GDP EXCEPT a. the income from a garage sale. d. Purchasing plastic surgery.