ECONOMICS
BUSINESS CYCLES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Michael Kors hires designers to come up with new product lines. Is this included in GDP?
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Yes-Consumer Spending
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Yes-Investments
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No-Black Market
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No-purely financial transaction
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Explanation:
Detailed explanation-1: -Expert Answer Goods and services produced at home are not included in the GDP.
Detailed explanation-2: -The major items included in the calculation of GDP include business investment, net exports, individual consumptions, and government expenditures. The GDP calculation does not transfer payments, purchases, and sales of used goods, intermediate goods, etc.
Detailed explanation-3: -The four components of gross domestic product are personal consumption, business investment, government spending, and net exports.
Detailed explanation-4: -Personal consumption expenditures. Investment. Net exports. Government expenditure. 07-May-2014
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