Which of the following is NOT a component of GDP calculation?

The correct answer is stock market performance, which is not a component of GDP calculation. GDP, or Gross Domestic Product, measures the total economic output of a country and includes several key components: consumption, investment, government spending, and net exports.

Government spending represents expenditures on goods and services that government institutions provide. Investment by businesses refers to spending on capital goods that will be used for future production, which is vital for economic growth. Net exports calculate the difference between what a country sells to others (exports) and what it buys from them (imports), reflecting the country's international economic activity.

In contrast, stock market performance relates to the trading of shares and does not directly indicate the current economic production of goods and services. While changes in the stock market can reflect business prospects and investor sentiment, they do not factor into the direct measurement of a country's economic activity as captured by GDP. Thus, stock market performance is not included in GDP calculations.