Answer:
Included in GDP
Money spent to clean up a toxic waste site in Ohio.
Andre paying Ted for a haircut in Chicago
Revenue generated by legal medical marijuana sales in California.
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports – imports
Items not included in the calculation off GDP includes:
1. services not rendered to oneself
2. Activities not reported to the government
3. illegal activities
4. sale or purchase of used products
5. sale or purchase of intermediate products
Money spent to clean up a toxic waste site in Ohio is part of government spending and it would be added in GDP
Andre paying Ted for a haircut in Chicago is part of consumption spending and it would be added as part of GDP
Revenue generated by legal medical marijuana sales in California is part of consumption spending and it would be added as part of GDP
