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(- C ngo gap com static bui de htmlht d 6164618 t N deld: 2262400078deploymentid-487007218640624999886442708 else !! Apps uyr sted Saes cos ,fth Grade Social St An naland Plant Cel 2017-1SCalenda, ac Oro go somrs|P& Mom to 2 Po 5% MINDTAP Aplia Homework: Macroeconomic Measurements, Part II:GDP and Real GDP 0 Due Today at 11:59 PM EOT The gross domestic product (GDP) of the United States is defined as the a given period of time. Based on this definition, indicate which of the following transactions willbe included in (that is, directly increase) the GDP of the United States in 2017 2017 GDP Included Excluded Scenario Rotato, a U.S. tire company, produces a set of tires at a plant in Michigan on September 25, 2017. It sells the set of tires to Speedmaster for use in the production of a two-door coupe that will be made in the United States in 2017 Note: Focus exclusively on whether production of the set of tires increases GDP directly, and ignore the effect of production of the two-door coupe on GOP) The Jones family buys an antique silver platter at an auction in upstate New York on March 11, 2017, Roadway Motors, a u.s. automobile company, produces a convertible at a plant in Germany on March 11, 2017 Roadway Motors imports the convertible into the United States on May 29, 2017 Awake Cafe, a U.S. coffee company, produces a latte at its location in Minneapolis on January 6, 2017. It sells the latte to a customer immediately Chocolate Express, Swiss chocolate company, produces a chocolate bar at a plant in lncis on December 14, 2017. An elementary school student buys the chocolate bar on December 24Explanation / Answer
The gross domestic product (GDP) measures the dollar value of all the goods and services that are produced in a country in a specified period of time which is usually a year.
A) The sale of tires by Rotato to Speedmaster will be included in the GDP of 2017 of the US. This is because the tires have been produced in the country during the year 2017.
B) The purchase of antique silver platter by Jones family will not be included in the GDP of 2017 of the US. This is because the GDP calculation excludes those items that have been produced in a previous period.
C) The production of the convertible car by Roadway Motors will not be included in the GDP of 2017 of the US. This is because the car has not been produced in the US and GDP includes those items that are produced domestically.
D) The sale of latte by Awake Café will be included in the GDP of 2017 of the US.
E) The purchase of chocolate bar by the student will be included in the GDP of 2017 of the US.
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