Which of the following transactions are NOT included in current GDP? (Select all that apply.)

Question

BlackTom AI · Accepted Answer

We need to determine which transactions do not get counted in current GDP.
Option 1: 'You buy a used car from your parents.' This is a purchase of a second-hand good. GDP measures the value of newly produced goods and services in a given period, not the sale of goods that were already produced in the past. Therefore, this transaction is not included in current GDP because it does not reflect current production.
Option 2: 'You sell your General Motors shares.' Selling shares is a financial transaction that transfers ownership of a non-produced asset. GDP counts only the value of new goods and services produced within the economy, not the buying and selling of financial instruments. Hence, this sale does not contribute to current GDP.
In summary, both options describe activities that either involve non-produced goods (used items) or purely financial transfers, neither of which add to current GDP.

SP25 ECON 312 001 Midterm Exam #1 (Chapters 1-5): Sample Questions

Which of the following transactions are NOT included in current GDP? (Select all that apply.)

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