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Question

Which of the following is/are included in the GDP calculation of India?

i. A housewife working at home and doing cleaning, cooking and house management

ii. Barter of agriculture produce such as milk and grain in villages

iii. Barter of services in cities

A Only i Correct Answer Incorrect Answer
B Only ii Correct Answer Incorrect Answer
C Only i and ii Correct Answer Incorrect Answer
D Only ii and iii Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

Solution

GDP calculation is based on the transactions that are in formal system. Barter and household work and volunteering is not reporter in any market transaction, therefore are not accounted for the GDP calculation.

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