List and discuss the components of GDP.
December 25, 2020
December 25, 2020

1.       Government outlays for Social Security can be reported in which of the following categories of GDP?  a) Personal consumption b) Government consumption and investment c) Nonresidential investment d) Residential investment

2.       Which of the following is not included in GDP?  a) The value of the time of a stay-at-home parent. b) The purchase of a ticket to a Lady Gaga performance. c) The salary of a public school teacher. d) A new cell phone.