Blank 1: cost of producing, market value of, or wholesale cost of Blank 2: Final

Question

Blank 1: cost of producing, market value of, or wholesale cost of

Blank 2: Final goods and services produced, final goods and services consumed, or final and intermediate goods and services produced

Blank 3: within the united states, by US owned companies, or by US Citizens

2. Activities included (and not included) in the calculation ofGDP The gross domestic product (GDP) of the United States is defined as the all in a given period of time. Based on this definition, indicate which of the following transactions will be included in (that is, directly increase) the GDP of the United States in 2017. 2017 GDP Scenario Fastlane, a Japanese automobile company, produces a sedan at a plant in Indiana on December 12, 2017. A family buys the sedan on December 24. Included Excluded Athleticus, a U.S. shoe company, produces a pair of sneakers at a plant in Vietnam on March 17, 2017. Athleticus imports the pair of sneakers into the United States on May 21, 2017. Zippycar, a U.S. automobile company, produces a convertible at a manufacturing plant in Minneapolis on January 9, 2017. It sells the car at a dealership in Houston on February 2, 2017. Rotato, a U.S. tire company, produces a set of tires at a plant in Michigan on September 19, 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 GDP.) The Jones family buys an antique silver platter at an auction in upstate New York on March 17, 2017.

Explanation / Answer

Question 2 1) market value of , 2) final goods & services produced 3) within the united states

Scenario

1) production had taken place within national boundaries of USA , so it's included in GDP

2) production is outside USA , so excluded

3) excluded, as final sale has yet tto be made

4) excluded, bcoz it will be included in gdp by value added method & not by expenditure method

5) nothing is produced , so excluded, not a part of GdP

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.