Question: Attempts Keep the Highest / 2 2 . Activities included ( and not included ) in the calculation of GDP The gross domestic product (
Attempts
Keep the Highest
Activities included and not included in the calculation of GDP
The gross domestic product GDP of the United States is defined as the
all
in a given period
Based on this definition, indicate which of the following transactions will be included in that is directly increase the
Using wood from a red maple tree on your Michigan property you make a birdhouse in A similar birdhouse sel for $ in a craft store.
Sleepytown, a Finnish furniture company, produces a bed frame at a plant in Virginia on December It sells bed frame to a college student on December
Generic Motor Company, a US automobile company, produces a pickup truck at a manufacturing facility in Lordstow on January It sells the car at a dealership in Philadelphia on February
Graincorp, a US agricultural company, produces corn syrup at a plant in Iowa on September It sells the syrup to Crunchy's for use in the production of cereal that will be made in the United States in Note: Focus exclusively on whether production of the corn syrup increases GDP directly, and ignore the effect of production of the cereal on GDP
Gamewear, a US electronics company, produces a VR headset at a plant in South Korea on March Gamewe imports the VR headset into the United States on May
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
