Economics-GDP Help?

Which of the following are included in this years GDP? Explain your answer in each case. a) Interest on an AT%26amp;T corporate bond. b)Social security payments received by a retired factory worker. c)the unpaid services of a family member in painting the family home. d)the income of a dentist. e) the money received by Smith when she sells her economics textbook to a book buyer. f)the monthly allowance a college student revceives from home. g)Rent received on a two bedroom apartment. h)the money received by Josh when heresells his urrent year model honda automobile to Kim. i)the publication of a college textbook. j)a 2 hour decrease in the length of the workweek. k)the purchase of an AT%26amp;T corporate bond. l)a $2 billion increase in business inventories. m)the purchase of 100 shares of GM common stock n)the purchase of an insurance policy.


Can anyone give me some insight on how to answer these??


Thanks!

Economics-GDP Help?
You aren't going to like this answer, but you gotta find something to read about GDP that will explain it to you. Sounds like that question comes from a textbook, go look for a section on GDP in the material before the question.





Here's the "laypersons" explaination by the Commerce Department. That would probably help you understand it as well.





http://www.bea.gov/national/pdf/nipa_pri...





Basically GDP counts the value of goods AND services that are produced. It's counted when things are produced (not when they're sold). It only counts the outputs of things that will be "consumed" next --- so a car that's produced only counts when it's finished, not when say 2/3 of the labor has gone into it. The government's GDP counts only things it can see, so some of those things up there won't count since the government can't tell if you sell a book under the table or give money to a friend or child.





The financial stuff (interest, bonds, rent) I'm less sure of.