Question

Is a meal you make for a dinner party counted in the US GDP?

Answer 1

No, a meal made for a dinner party is not counted in the US Gross Domestic Product (GDP). GDP measures the total value of goods and services produced within a country's borders during a specific time period. It focuses on economic activities carried out in the market, where transactions occur in exchange for money. Since a meal made for a dinner party is not a market transaction and no money is exchanged, it is not included in the GDP calculation.