Which of the following items are included in GDP? For those items not included, explain why they are not included in GDP.   You make your own pasta sauce in your apartment. You grow basil on your apartment balcony. You travel to France and buy wine and cheese. Arçelik produced 100,000 washing machines in 2019 but half of them remain unsold at the end of the year. A farmer’s product purchased by a restaurant to serve to customers.

Q: Explain why it is the case that the value of intermediate goods produced and sold during the year is…

A: Intermediate goods produced and sold during the year are not included in GDP calculation because…

Q: Gross Domestic Product (GDP) in 2011 would include which of the following transactions?  (A) The…

A: Gross domestic product (GDP) is the final monetary value of goods and services produced in a given…

Q: Assume that a grower of flower bulbs sells its annual output of bulbs to an Internet retailer for…

A: Personal consumption expenditure is made by the households who are the final consumers of a good or…

Q: 2) Which of the following items are included in GDP? For those items not included, explain why they…

A: Answer - Need to find- Which of the following items are included in GDP? For those items not…

Q: A farmer sells wheat to a baker for $2. The baker uses the wheat to make bread, which is sold for…

A: Intermediate goods are the goods used to create another product. Intermediate goods are inputs in…

Q: Suppose Nucor Steel sells $2,000 worth of steel to Ford, other producers sell $5,000 worth of other…

A: Answer: GDP refers to the value of only final goods and services produced in a year. It does not…

Q: Which of the following WOULD be counted in GDP? Baking a cake for a family gathering Buying some…

A: GDP stands for Gross Domestic Product of the economy. It is the final value of goods and service…

Q: 1. Farmer Brown produces $100 worth of milk. He sells $40 worth of the milk in the market and uses…

A: GDP is also known as gross domestic product. It is the sum total of all the final goods and…

Q: Q.3.1 Calculate the value of gross domestic product (GDP) at market prices. Q.3.2 Calculate the…

A: Solution in step 2

Q: Suppose an U.S. farmer sells a truckload of sugar cane to a sugar refinery for $200. The refinery…

A: GDP refers to the total value of finished goods and services that produced within the economic…

Q: 1) Which of the four components of GDP – C, I, G, NX -- will be affected by each of the following…

A: a)Because ticket is purchased,consumption has taken place. Therefore (C) would be affected. b)Here…

Q: 1. How do we know that calculating GDP by the expenditure approach yields the same answer as…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Which of the following items are included in the U.S. GDP? For those items not included, explain why…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: produces apples, 1200 to consumers (final users) and 700 to Firm 2. Firm 2 produces apple juice,…

A: In GDP we include only the value of final goods and services produced within the given fiscal year.…

Q: Which of the following is included in the measurement of GDP? (A) The beauty of art. (B) The love of…

A: Economies tend to get involved in various economic activities, such as the consumption of goods and…

Q: 11. Which of the following are not included in GDP statistics? The value of goods and services O…

A: GDP is the total value of all goods and services produced in a given economy during a set period of…

Q: 1. A Toronto shoe manufacturer makes $250,000 in shoes from $100,000 in leather produced this year…

A: Dear student,  You have asked multiple questions in a single post. I am answering first question for…

Q: Billions of Dollars Gross private domestic investment $2,200 Depreciation $1,887 Exports $2,820…

A: Answer: GDP calculation by expenditure approach: This approach measures the GDP as a sum of total…

Q: The truck manufacturer purchased $8,000 in intermediate goods produced this year by domestic firms…

A: Gross domestic product or income refers to the total market value of goods and services produced…

Q: 19. Which of the following is included in both the U.S. GDP and GNP? a) the value of all cars…

A:

Q: 6.) Which of the following Transactions will be included in GDP for the United States? a.)…

A: GDP is the total market value of all finished goods and services produced in the country.

Q: 7. Which of the following would be counted in France's GDP? A The purchase of a motorcycle to one's…

A: GDP is the final value of all goods and services produced in a country during a given year. Whatever…

Q: 1- GDP is defined as ____________ Select one: a. The market value of all final goods and services…

A: 1. The answer is - a. The market value of all final goods and services produced within a country…

Q: During 2009, the leather company produced enough leather for 20 couches.  The couch manufacturing…

A: GDP: The GDP is the value of all finished goods and services or products produced in the economy…

Q: Which of the following are included in GDP, and which are not? a. The cost of hospital stays b. The…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Consider the following statements regarding Gross Domestic Product: (i) It is the value added by all…

A: The modern concept of GDP or Gross domestic product first was developed by Simon Kuznets.

Q: You just bought an old car a couple years ago for $1,000 and put about $5,000 of parts and labor…

A: Secondhand goods, such as used cars, are excluded from GDP calculations.  When these things were…

Q: Which of the following transactions would NOT be counted in GDP? Select one: a. Nike builds a retail…

A: GDP refers to gross domestic product which is accounted by addition of all the values of final goods…

Q: Which of the following items are included in GDP? For those items not included, explain why they are…

A: The gross domestic product(GDP) refers to the market value of all final commodities(goods and…

Q: 1.Which items directly add to GDP? Group of answer choices Microsoft sells 10 computers to UCF  […

A: The Gross Domestic Product is the summation of the money value of all the final goods and services…

Q: 1) How do the following events influence Turkish GDP? a. Mothers living in Turkey take care of their…

A: GDP: It is the final market value of goods and services produced in the country during a year.

Q: 1. For the items listed below, determine whether or not each would be used to compute GDP. If it is,…

A: GDP is the sum total of market value of final goods and services produced in a country during a…

Q: 4. GDP and Related Measures Suppose an economy produces only 2 products that will also be used for…

A: "Since you have asked a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Which of the following transactions count towards GDP? A The selling of an empty plot of land. в The…

A: When the plot is sold, it is already accounted in calculation of GDP when the first time it was…

Q: Which of the following are included in the year’s GDP? which are excluded? Explain your answers…

A: GDP (Gross Domestic Product): It refers to the value of all finished goods and services that are…

Q: 1. Which of the following is not included in the consumption component of GDP? Group of answer…

A: 1. The consumption component of GDP includes consumption of services, consumption of durable goods…

Q: 8. A farmer grows a bushel of wheat and sells it to a miller for birr 8.00. The miller turns the…

A: 8. Value or product added method is a method of calculating national income. This method includes…

Q: Suppose Robinson and Crusoe are stranded on a desert island in the Pacific Ocean and discover a…

A: GDP measures the money value of all final goods and services produced in an economy during a period…

Q: What activity is not included in the GDP? Emily cooked some soup for the customers in the restaurant…

A: The abbreviation "GDP" refers to the "Gross Domestic Product," which is the total monetary value of…

Q: A farmer sells wheat to a baker for £5. The baker uses the wheat to make bread, which is sold for $8…

A: A farmer sells wheat to a baker for £5. Note: Assuming farmer does not use any intermediate goods…