Which of these is included in GDP?

Free education provided in government schools, valued at its costCorrect answerYour answerMoney sent home by a worker employed in the same cityCorrect answerYour answerA gift of ₹10,000 from an uncleCorrect answerYour answerIncome from selling an old flatCorrect answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer A

Correct answer: A

Government services are counted at cost, as government final consumption expenditure.
Money sent home and gifts are transfers; the old flat is a second-hand asset.

Concept: Government services in GDP
Typical timeTypical: 100 s
Your timeYours: —

The rule this testsWhat is counted and what is not

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Which of these is included in GDP?

Explanation