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Items Excluded in GDP

You and your ...

Question

You and your friend played a game of chess, and you won. For this win, your friend gave you Rs. 1000. Other than this, you have produced and sold chocolates worth Rs. 5,000. Calculate your GDP from this data.

A

4,000

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B

5,000

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C

6,000

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D

Cannot be determined

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Solution

The correct option is B
5,000

The GDP is just 5,000. The 1,000 was simply a gift or a prize and cannot be used in the calculation of GDP.

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