The gross domestic product (GDP) of the United States is defined as the 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 2018. 2018 GDP Scenario Included Excluded Tasty's, a U.S. fast-food company, produces a hamburger at one of its many St. Louis locations on January 14, 2018. It sells the hamburger to a customer that same day. Athleticus, a U.S. shoe company, produces a pair of sneakers at a plant in Vietnam on March 27, 2018. Athleticus imports the pair of sneakers into the United States on May 18, 2018. Rotato, a U.S. tire company, produces a set of tires at a plant in Michigan on September 25, 2018. 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 2018. (Note: Focus exclusively on vwhether production of the set of tires increases GDP directly, and ignore the effect of production of the two-door coupe on GDR.) Sofaland, a Svedish furniture company, produces a table at a plant in Virginia on December 9, 2018. It sells the table to a college student on December 24. An accountant starts a client's 2018 tax return on April 14, 2019, finishing it just before midnight on April 15, 2019.
The gross domestic product (GDP) of the United States is defined as the 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 2018. 2018 GDP Scenario Included Excluded Tasty's, a U.S. fast-food company, produces a hamburger at one of its many St. Louis locations on January 14, 2018. It sells the hamburger to a customer that same day. Athleticus, a U.S. shoe company, produces a pair of sneakers at a plant in Vietnam on March 27, 2018. Athleticus imports the pair of sneakers into the United States on May 18, 2018. Rotato, a U.S. tire company, produces a set of tires at a plant in Michigan on September 25, 2018. 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 2018. (Note: Focus exclusively on vwhether production of the set of tires increases GDP directly, and ignore the effect of production of the two-door coupe on GDR.) Sofaland, a Svedish furniture company, produces a table at a plant in Virginia on December 9, 2018. It sells the table to a college student on December 24. An accountant starts a client's 2018 tax return on April 14, 2019, finishing it just before midnight on April 15, 2019.
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter7: Taking The Nation's Economic Pulse
Section: Chapter Questions
Problem 14CQ
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i am having trouble with this macro econ question 1
Transcribed Image Text:The gross domestic product (GDP) of the United States is defined as the
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
2018.
2018 GDP
Scenario
Included
Excluded
Tasty's, a U.S. fast-food company, produces a hamburger at one of its many St. Louis locations on January 14, 2018. It
sells the hamburger to a customer that same day.
Athleticus, a U.S. shoe company, produces a pair of sneakers at a plant in Vietnam on March 27, 2018. Athleticus
imports the pair of sneakers into the United States on May 18, 2018.
Rotato, a U.S. tire company, produces a set of tires at a plant in Michigan on September 25, 2018. 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 2018.
(Note: Focus exclusively on vwhether production of the set of tires increases GDP directly, and ignore the effect of
production of the two-door coupe on GDR.)
Sofaland, a Svedish furniture company, produces a table at a plant in Virginia on December 9, 2018. It sells the table
to a college student on December 24.
An accountant starts a client's 2018 tax return on April 14, 2019, finishing it just before midnight on April 15, 2019.
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