Final answer:
Among the provided transactions, only the car dealership repair service for $3000 would be counted in U.S. GDP. The rest are either non-market activities or resales of used goods, which are not accounted for in GDP calculations. Hence, the correct answer is option (a) and (b).
Step-by-step explanation:
The question pertains to which transactions are counted in the U.S. Gross Domestic Product (GDP). Among the options given:
- Blaise's home-grown turnips are not part of GDP since they are not sold in the market.
- Paxton's purchase of a used Nintendo Switch is not counted in GDP because it's a resale of an item and doesn't represent new production.
- Astrid Lugo's babysitting as a favor is not included in GDP as no market transaction takes place.
- Your car dealership's repair service for $3000 is part of GDP, reflecting current economic activity for services rendered.
Looking at examples provided for reference, we know that:
- Cost of hospital stays are included in GDP.
- Child care provided by a licensed day care center is part of GDP.
- A new car sale is part of GDP.
- The iron that goes into steel for a refrigerator bought by a consumer is not counted in GDP since it's an intermediate good.