8. which of the following are included in this year’s gdp? mark with an (y) if it is counted and a (n) if it is not counted. why!
_____. the money received by desire when she sells her old prom dress on craigslist
_____, prom tickets for prom.
_____. the unpaid services of a family member who styles your hair for prom.
_____. the income of a teacher.
_____. the money your dad gives you for prom.
_____. the money received by desire when she sells last year’s prom shoes to kim.
_____. a $2 trillion increase prom dress inventory.

Question

Accepted Answer

### 1. The money received by Desire when she sells her old Prom dress on Craigslist
# Brief Explanations:
GDP counts newly produced goods and services in a given period. The old prom dress was already counted in the GDP of the year it was originally produced. Selling a used good is a transfer of ownership, not a new production, so it's not included.
# Answer:
N. The money received by Desire when she sells her old Prom dress on Craigslist

### 2. Prom tickets for prom
# Brief Explanations:
Prom tickets are a service (admission to prom) produced this year. The revenue from selling these tickets is for a current - period service, so it is included in this year's GDP.
# Answer:
Y. Prom tickets for prom

### 3. The unpaid services of a family member who styles your hair for prom
# Brief Explanations:
GDP only includes market - based transactions (where there is a monetary exchange). Unpaid services within a family are non - market activities and are not included in GDP as there is no economic transaction in the market sense.
# Answer:
N. The unpaid services of a family member who styles your hair for prom

### 4. The income of a teacher
# Brief Explanations:
A teacher's income is for the services (teaching) they provide in the current year. This is a market - based transaction (they are paid for their work), so it is included in GDP.
# Answer:
Y. The income of a teacher

### 5. The money your dad gives you for prom
# Brief Explanations:
This is a transfer of money (a gift) and not a payment for a newly produced good or service. There is no production associated with this transfer, so it is not included in GDP.
# Answer:
N. The money your dad gives you for prom

### 6. The money received by Desire when she sells last year’s prom shoes to Kim
# Brief Explanations:
Similar to the old prom dress, the prom shoes were already counted in the GDP of the year they were originally produced. Selling a used good is just a transfer of ownership and not new production, so it's not included in this year's GDP.
# Answer:
N. The money received by Desire when she sells last year’s prom shoes to Kim

### 7. A $2 trillion increase in prom dress inventory
# Brief Explanations:
Inventory investment is part of GDP. An increase in inventory means that goods (prom dresses) are produced but not yet sold, and this is considered part of the current year's production, so it is included in GDP.
# Answer:
Y. A $2 trillion increase in prom dress inventory

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QUESTION IMAGE

Question

Explanation:

1. The money received by Desire when she sells her old Prom dress on Craigslist

Answer:

2. Prom tickets for prom