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Question : Which of the following is included in the calculation of GDP?

 

Option 1: Payments for government transfer programs

Option 2: Consumer spending on non-durable goods

Option 3: Income earned by foreign nationals in the country

Option 4: Capital gains


Team Careers360 3rd Jan, 2024
Answer (1)
Team Careers360 8th Jan, 2024

Correct Answer: Consumer spending on non-durable goods


Solution : The correct answer is (b) Consumer spending on non-durable goods

Consumer spending on non-durable goods, such as food, clothing, and other consumable items, is included in the calculation of Gross Domestic Product (GDP). GDP measures the total value of goods and services produced within a country's borders in a specific time period. It represents the sum of consumer spending, investment, government spending, and net exports.

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