23. Which of the following would be considered a final good or service in the calculation of GDP? (Check all that apply.) (] an iPad you buy for use at school [] an iPad that BU buys me to use teaching my classes (no, this would never happen. BU is cheap.) | Disney World tickets for you and your family to celebrate during Spring Break (oh, wait) [] car parts manufactured in Mississippi and sold to Ford Motor Company

23. Which of the following would be considered a final good or service in the calculation of GDP? (Check all that apply.) (] an iPad you buy for use at school [] an iPad that BU buys me to use teaching my classes (no, this would never happen. BU is cheap.) | Disney World tickets for you and your family to celebrate during Spring Break (oh, wait) [] car parts manufactured in Mississippi and sold to Ford Motor Company

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter15: Measuring A Nation's Income

Section: Chapter Questions

Problem 3CQQ

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Which of the following are included in GDP, and which are not? The cost of hospital stays The rise in life expectancy over time Child care provided by a licensed day care center Child care provided by a grandmother A used car sale A new car sale The greater variety of cheese available in supermarkets The iron that goes into the steel that goes into a refrigerator bought by a consumer.
1. Which of the following are included in this year’s GDP? Explain your answer in each. A 2-hour decrease in the length of the workweek. The purchase of an AT&T corporate bond. A $2 billion increase in business inventories.
2. Which of the following are included in GDP, and which are not? a. The cost of hospital stays b. The rise in life expectancy over time c. Child care provided by a licensed day care center d. Child care provided by a grandmother e. The sale of a used car f. The sale of a new car g. The greater variety of cheese available in supermarkets h. The iron that goes into the steel that goes into a refrigerator bought by a consumer.
1. Identify whether the following items are officially included in 2019 GDP or Not. Give specific reasons if they are not included in GDP. a. You purchased a home in 2019 that was built in 2015. b. Firestone sells $2 million worth of tires to General Motors. c. John makes chain-link belts and necklaces and sells them at a local flea market for cash to avoid paying taxes. d. The value of treasury notes sold by federal government in 2019. e. The profit earned in 2019 from selling a stock that you purchased in 2010. f. The value of a motor that is used in the production of a lawn mower in 2019. g. The value of a motorcycle produced in the United States in 2019 and exported to Japan. h. The value of a laser printer manufactured in 2019 but not sold in 2019.
Section 1, Measuring the Size of the Economy, introduces Gross Domestic Product, which is the value of all goods and services produced in a country in a given year. It is sometimes thought of as our nation’s income. For this discussion, your task is to: Explain the merits, and why we would expect to see a correlation between GDP and well-being. Explain the shortfalls of analyzing GDP, by itself, to assess the state of the economy.
3. Identify whether the following items are officially included in United States GDP or GNP. a. The wage of a Mexican citizen who works in a farm in Texas in United States. b. The profit earned by a Brazilian Citizen who works in New York stock exchange in NewYork. c. The income earned by an American professor delivering a series of lectures in London. d. The value of Espresso coffee Star Bucks produces in France.
6.) Which of the following Transactions will be included in GDP for the United States? a.) Coca-Cola builds a new bottling plant in the United States. b.) Delta sells one of its existing airplanes to Korean Air. c.) Ms. Moneybags buys an existing share of Disney stock. d.) A California winery produces a bottle of Chardonnay and sells it to a customer in Montreal, Canada. e.) An American buys a bottle of French perfume in Tulsa. f.) A book publisher produces too many copies of a new book; the books don't sell this year, so the publisher adds the surplus books inventories.
2) Which of the following items are included in GDP? For those items not included, explain why they are not included in GDP. You buy newly issued shares of stock in Tektaş.com, Inc. You buy a new pair of gloves at a local shopping center. You have a hair cut at your hair salon. You buy an antique vase at a resale shop.
1. Identify whether the following items are officially included in United States GDP or GNP. a.The wage of a Mexican citizen who works in a farm in Texas in United States. b. The profit earned by a Brazilian Citizen who works in New York stock exchange in NewYork. c. The income earned by an American professor delivering a series of lectures in London. d. The value of Espresso coffee Star Bucks produces in France.
34. Which of the following is the definition of GDP? a.The market value of intermediate goods and services in a year b.The market values of all final goods and services in a year c.The market value of non -durable goods in a year d.The market value of durable goods in a year
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