Question

which of the following would not be included in a measure of gdp?ivanhoe publications exports $25 million of books to ireland.the u.s. government buys office supplies worth $30 million from the supply closet.you give your car a tune - up and change the oil yourself.you hire larrys lawn care to cut your grass once per week during the summer for $50/week.an increase in gdp per capita means thatan economy is growingan economy is in a recessionunemployment is too highindividuals are not saving enoughin the u.s., the labor force consist of all people above agewho are actively working or seeing work.21181614

Explanation:

1. First question: GDP measures the market value of all final goods and services produced within a country in a given period. When you do car maintenance yourself, it's a non - market activity (no payment for a service in the market), so it's not included in GDP. Exports (Ivanhoe Publications), government purchases (U.S. government buying office supplies), and hiring a service (Larry's Lawn Care) are all market transactions included in GDP.
2. Second question: GDP per capita is calculated as \(GDP\ per\ capita=\frac{GDP}{Population}\). An increase in GDP per capita means that, on average, each person in the economy is producing more (assuming population growth is not outpacing GDP growth), which is an indication that the economy is growing. A recession is associated with a decline in GDP, high unemployment is a separate labor - market indicator, and low savings is a different macro - economic variable not directly related to GDP per capita growth.
3. Third question: In the U.S., the labor force is defined as people above the age of 16 who are either employed or unemployed (actively seeking work).

Answer:

1. You give your car a tune - up and change the oil yourself.
2. an economy is growing
3. 16