Asked by
Katie Schmitz
on Oct 13, 2024
Verified
If families began doing each other's laundry for pay,GDP would
A) rise.
B) fall.
C) remain unchanged because services are not included in GDP.
D) remain unchanged because laundry is not a final gooD.
Final Good
A product that is consumed directly by the end-user or customer and will not be used to produce any further goods or services.
Laundry Services
Services provided by businesses to clean clothing and textiles for individuals or commercial customers.
- Comprehend the meaning and elements of Gross Domestic Product (GDP).
- Identify the elements not considered in the computation of the Gross Domestic Product.
Verified Answer
CD
Learning Objectives
- Comprehend the meaning and elements of Gross Domestic Product (GDP).
- Identify the elements not considered in the computation of the Gross Domestic Product.