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.

GDP Deflator (NomGDP/Real GDP)*100 88.4 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 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 No 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

For each of the following expenditures, indicate whether it would be counted as part of the US GDP. A local bakery buys sugar from a foreign producer, to make cakes that it then resells Choose... + You buy a slice of cake from a local bakery Choose... + You buy flour from a US producers Choose.. + Toyota sells 1000 cars that were built last year in the US Choose.. + A local movie theatre buys popcorn from an US producer Choose.. +