GDP does not directly include intermecute goods because; a. Intermediate goods are not valuable b. Intermediate goods are not useful to consumers. C. That would count the intermediate goods twice. d. That would understate the truc size of GDP 2. Which of the following best describes an intermediate good? a It has no value to the seller. b. It has no value to the buyer. C. It is purchased by a household for future use. d. It helps produce another good Which of the following will not be included in 2008 GDP? 1. Buying a new 2008 Ford. b. Rent on a 2007 Pontiac leased from an automobile dealer during 2008. c. The sale of a 2008 Chevrolet produced in the United States but sold to a person in Mexico. d. The price of a used 2004 Ford purchased in 2008. 4. Gross domestic product (GDP): a Is the sum of all exchanges of goods and services during a period. b. Includes financial transactions such as the purchase of stocks or bonds traded during a period. C. Is the sum of expenditures for both intermediate and final-user goods. d. Is the sum of the total spending on all final-user goods and services produced domestically during a period. S. Suppose a farmer in Illinois sells a bushel of wheat to a miller for $1.50 and the miller processes it into flour and sells the flour to a baker for $2.50 who, in tum, produces a giant loaf of bread und sells the loaf of bread to a customer for $3.75. In calculating the Gross Domestic Product:!, the contribution of this series of transactions would be: 4. $3.75. h. $2.50. C. $7.75. d. $1.50. C $1.25