Macroeconomics + Economy 2009 Update 18th Edition by Campbell McConnell, Sean Masaki Flynn,Stanley Brue

Exercise 1

Which of the following are included in this year's GDP Explain your answer in each case.
a. Interest on an AT T corporate bond.
b. Social Security payments received by a retired factory worker.
c. The unpaid services of a family member in painting the family home.
d. The income of a dentist.
e. The money received by Smith when she sells her economics textbook to a book buyer.
f. The monthly allowance a college student receives from home.
g. Rent received on a two-bedroom apartment.
h. The money received by Josh when he resells his currentyear-model Honda automobile to Kim.
i. The publication of a college textbook.
j. A 2-hour decrease in the length of the workweek.
k. The purchase of an AT T corporate bond.
l. A $2 billion increase in business inventories.
m. The purchase of 100 shares of GM common stock.
n. The purchase of an insurance policy.