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Which of the following is/are not included in the GDP?
1. Pensions
2. Scholarships
3. Subsidies
4. Remittances
Select the correct answer from the options given below:
1. Pensions
2. Scholarships
3. Subsidies
4. Remittances
Select the correct answer from the options given below:
- a)1, 2 and 3
- b)2, 3 and 4
- c)1, 2 and 4
- d)1, 2, 3 and 4
Correct answer is option 'D'. Can you explain this answer?
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Verified Answer
Which of the following is/are not included in the GDP?1. Pensions2. Sc...
Transfer payments such as pensions, scholarships, subsidies etc are excluded from GDP calculations because there is no production of any goods or services in exchange of such payments. Remittances (Money sent home from emigrants working abroad) are also not included in the GDP. This is because, in GDP estimations, only those goods and services produced within a country are included.
Most Upvoted Answer
Which of the following is/are not included in the GDP?1. Pensions2. Sc...
Explanation:
Gross Domestic Product (GDP) is a measure of the economic performance of a country. It is the total value of all goods and services produced within the geographical boundaries of a country in a given period of time.
The following items are generally excluded from the calculation of GDP:
1. Pensions: Pensions are payments made to retired individuals. They are not included in GDP as they are transfer payments and do not represent the production of goods and services.
2. Scholarships: Scholarships are grants given to students to help them pay for their education. They are not included in GDP as they are transfer payments and do not represent the production of goods and services.
3. Subsidies: Subsidies are payments made by the government to support certain industries or sectors. They are not included in GDP as they do not represent the production of goods and services.
4. Remittances: Remittances are money sent by individuals working abroad to their families back home. They are not included in GDP as they do not represent the production of goods and services within the country.
Therefore, the correct answer is option 'D' - 1, 2, 3 and 4 are not included in GDP.
Gross Domestic Product (GDP) is a measure of the economic performance of a country. It is the total value of all goods and services produced within the geographical boundaries of a country in a given period of time.
The following items are generally excluded from the calculation of GDP:
1. Pensions: Pensions are payments made to retired individuals. They are not included in GDP as they are transfer payments and do not represent the production of goods and services.
2. Scholarships: Scholarships are grants given to students to help them pay for their education. They are not included in GDP as they are transfer payments and do not represent the production of goods and services.
3. Subsidies: Subsidies are payments made by the government to support certain industries or sectors. They are not included in GDP as they do not represent the production of goods and services.
4. Remittances: Remittances are money sent by individuals working abroad to their families back home. They are not included in GDP as they do not represent the production of goods and services within the country.
Therefore, the correct answer is option 'D' - 1, 2, 3 and 4 are not included in GDP.
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Community Answer
Which of the following is/are not included in the GDP?1. Pensions2. Sc...
Pension is an earned income while doing a productive economic activity, then why we are including Pension in GDP? there is no mention of old age pension or the retirement pension
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Which of the following is/are not included in the GDP?1. Pensions2. Scholarships3. Subsidies4. RemittancesSelect the correct answer from the options given below:a)1, 2 and 3b)2, 3 and 4c)1, 2 and 4d)1, 2, 3 and 4Correct answer is option 'D'. Can you explain this answer?
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