The gross domestic product (GDP) of the United States is defined as the all in a
ID: 1213542 • Letter: T
Question
The gross domestic product (GDP) of the United States is defined as the all in a given year. Based on this definition, which of the following win be included in (that is, directly increase) the GDP of the United States in 2016? Check all that apply. Awake Cafe, an American coffee company, produces a latte at its location In Minneapolis on January 9, 2016. It sells the latte to a customer immediately. Calcuk), an American electronics company, produces a calculator at a plant In Indonesia on March 18. 2016. Calculo imports the calculator into the United States on May 6, 2016. Graincorp, an American agricultural company, produces corn syrup at a plant In Iowa on September 30, 2016. It sells the com syrup to Crunchy's for use in the production of cereal that will be made In the United States in December. (Note: Focus exclusively on whether production of the com syrup increases GDP directly and ignore the effect of production of the cereal on GDP.) Fastlane, a Japanese automobile company, produces a sedan at a plant In Indiana on December 17, 2016. A family buys the sedan on December 28, 2016. The Jones family buys an antique platter at a garage sale In upstate New York on March 10, 2016.Explanation / Answer
The gross domestic product (GDP) of the United States is defined as the monetary value of all the finished goods and services produced within the country’s borders in a given period of time.
** Awake Café, an American coffee company, produces a latte at its location in Minneapolis on January 9 2016. It sells the latte to a customer immediately.
** Graincorp, an American agricultural company, produces corn syrup at a plant in Iowa on September 30, 2016. It sells the corn syrup to Crunchy’s for use in the production of cereal that will be made in the United States.
** Fastlane, a Japanese automobile company, produces a sedan at a plant in Indiana on December 27, 2016. A family buys the sedan on December 28, 2016.
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