Which of the following would not be included in GDP? Bob hires a construction company to build his home. Michael pays the neighbor kid to mow his yard. Alex buys some cheese and dough to bake a pizza at home. Elyse buys some shoes.
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- Last year, a small nation with abundant forests cut down 200 worth of trees. It then turned 100 worth of trees into 150 worth of lumber. It used 100 worth of that lumber to produce $250 worth of bookshelves. Assuming the country produces no other outputs, and there are no other inputs used in producing trees, lumber, and bookshelves, what is this nations GDP? In other words, what is the value of the final goods the nation produced including trees, lumber and bookshelves?Which of the following would not be included in the calculation of this year's GDP? a. a headlight bulb produced this year and purchased by Ford Motor Co. from a supplier to use in the production of a car O b. a headlight bulb produced but not sold this year and thus ending up as inventory O c. a headlight bulb produced this year and purchased at Joe's Auto Supply by Olivia to replace a burnt out bulb in her car Od. a headlight bulb produced this year and purchased at a large chain auto supply store by Olivia to replace a burt out bulb in her caWhich one of the following has to be taken into account when GDP is estimated? O A. John purchases shares to the value of R150 000 in Anglo American plc. O B. Peter invests in a 24-month tax-free fixed deposit. O C. A firm buys Mpho, its sales representative, a new car. O D. Patrick, a university student, buys an old car from a friend. O E. Anne, a civil pensioner, receives her monthly pension from the government.
- What counts as GDP (II)? By how much does GDP rise in each of the fol-lowing scenarios? Explain. (a) A computer company buys parts from a local distributor for $1 million,assembles the parts, and sells the resulting computers for $2 million.(b) A real estate agent sells a house for $200,000 that the previous ownershad bought 10 years earlier for $100,000. Te agent earns a commissionof $6,000.(c) During a recession, the government raises unemployment benefts by$100 million.(d) A new U.S. airline purchases and imports $50 million worth of airplanesfrom the European company Airbus.Which of the following adds to US GDP? O AI chop down a tree on my property and build a table. A similar table, sold at retail, would get a price of $800. O B. Awake Coffee, a U.S. coffee company, produces a latte in Minneapolis, MN and sells the latte to a customer immediately. O C. All of these answers add to G.D.P. for the United States. O D. Graincorp, a U.S. agricultural company, produces corn syrup at a plant in Chicago. It sells the corn syrup to Crunchy's for use in the production of Hyperactive Crunch. O E. Roadway Motors, a U.S. auto company, produces a car at a plant in Germany. The car is then imported into the U.S.If Ralph pays someone to mow his lawn and Norton mows his own lawn, what is the impact on GDP? a. Neither what Ralph pays nor the estimated value of Norton's mowing is included in GDP. O b. The answer depends on what Norton reports to survey takers. What Ralph pays to have his lawn mowed and the estimated value to Norton of mowing his own lawn are both included in GDP. c. d. Only what Ralph pays to have his lawn mowed is included in GDP.
- Which would be included in the category of investment spending in the calculation of GDP? O The purchase of stock in MacDonald's. The purchase of a new machine by Ford. O The selling of IBM corporate bonds. O The buying of shares of Janus mutual funds.Which of the following items is not a component of the income approach of measuring the U.S. GDP? O interest earned on savings deposits in the U.S. O profits made by foreign businesses in the U.S. O investment spending of American businesses in the U.S. O income earned by American businesses that export goods.False 3. The value of a 2005 boat you purchase from a boat dealer in 2007 would be counted in 2007's GDP O True False
- Suppose that there are two individuals in an economy, Person 1 and Person 2. Person 1 buys asecond-hand car from Person 2 for $12,000.10. What is the change in GDP according to the Income Approach here? What is the changeof each person’s contribution to GDP according to the Income Approach? Suppose now instead that an individual was buying $400 of wine from a domestic producer ofwine. Now suppose that this individual decides to import $400 of wine instead.11. What is the change of Consumption (C), Investment (I), Government Spending (G), NetExports (NX), and GDP as calculated by the Expenditure Approach in this example?Finally, now consider the following table:Government Purchases of Goods andServices$58.5Indirect Taxes Less Subsidies $29Personal Income Taxes $41.5Wages and Compensation $165.5Interest on Public Debt $15.5Consumption Expenditure $168.4Exports $90.9Depreciation $33.5Imports $93.3Gross Investment $67.2Net Interest Income $19.0Business Profits Before Taxes $45.512. What is…Which of the following is NOT part of GDP? O The purchase of new homes by consumers. O Purchases of new capital equipment by BMW. O Expenditures by the government for national defense. O Social security payments made to the elderly.Course dashboard Which of the following is included in both the U.S. GDP and GNP? (Toyota and Nissan are Japanese brands and Ford and General Motor are US brands). Lütfen birini seçin: O A. The value of all cars produced by Toyota in the U.S. O B. The value of cars produced by Nissan in the U.S. OC The value of cars produced by Nissan in Japan and the U.S. OD The value of all cars produced by Ford in Mexico. OE The value of all cars produced by General Motors in the U.S. Refer to the information provided in Table 21.10 below to answer the question that follow
