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Question

Q30.  Which of the following is/are not included in G.D.P estimation

i) Goods in the inventory of a company

ii) Value of Resale of goods

iii) Social transfers/Transfer payments

iv) Remittances from abroad


  1. a) i and iii only

  2. b) i only

  3. d) ii, iii and iv
  4. c) iv only


Solution

The correct option is C d) ii, iii and iv
ans: D

GDP is the total value of all final goods and serveices produced within a country in a given year.
Value of resale is not included because no new good is produced .
Social transfers like pensions , scholarships are also not included because no new good or serveice is produced in lieu of these payments.
Remittances are not included because it is earned in abroad and not within the country

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