Assignment 3 Chapter 6. Determine if each of the following would be included or not included in USA GDP for 2020. All transactions occurred in 2020. Circle Yes or No 1. Rebecca real estate agent sells a house built in 2014 for $1,500,000. Yes No No 2. $250,000 Bushels of wheat produced in 2020 were exported to Mexico. Yes No 3. Michael, a US citizen works over in Germany producing automobiles. Yes No 4. A Mickey Mantle Rookie card is sold on EBAY for $60,000. Yes No 5. John takes his family out for dinner at Shake Shack Dec 15,2020. Yes 6. Quark company purchases $5.000,000 of new property, plant, and equipment. Yes No 7. The Government employees Higgs Inc. to repair the roads in Washington DC at a cost of $2,500,000. Yes No 8. Veronica secretly sells Marijuana out of her laundry mat and makes $750,000 revenue for 2020. Yes No 9. General Motors has $35,000,000 Work in Process inventory on Dec 31, 2020 Yes No
Assignment 3 Chapter 6. Determine if each of the following would be included or not included in USA GDP for 2020. All transactions occurred in 2020. Circle Yes or No 1. Rebecca real estate agent sells a house built in 2014 for $1,500,000. Yes No No 2. $250,000 Bushels of wheat produced in 2020 were exported to Mexico. Yes No 3. Michael, a US citizen works over in Germany producing automobiles. Yes No 4. A Mickey Mantle Rookie card is sold on EBAY for $60,000. Yes No 5. John takes his family out for dinner at Shake Shack Dec 15,2020. Yes 6. Quark company purchases $5.000,000 of new property, plant, and equipment. Yes No 7. The Government employees Higgs Inc. to repair the roads in Washington DC at a cost of $2,500,000. Yes No 8. Veronica secretly sells Marijuana out of her laundry mat and makes $750,000 revenue for 2020. Yes No 9. General Motors has $35,000,000 Work in Process inventory on Dec 31, 2020 Yes No
Chapter15: Gross Domestic Product
Section: Chapter Questions
Problem 16SQ
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ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning