If Gladys sells her 1998 Jeep Cherokee for $3,500 in 2016, the sale of her car contributes $3,500 to 2016 GDP. 1) True 2) False

QUESTION 1 What is the percent change between the 28 years from 1991 to 2019 for GDP (constant 2010 US$)? 96% 103% 130%

Assume an economy where there are 2 producers: A Wheat Producer and a Bread Producer. In a given year, the wheat producer grows 30 million bushels of wheat of which 25 million bushels are sold to the bread producer at $3 a bushel, and 5 million bushels are stored by the wheat producer to use as seed for next year's crop. The bread producer produces and sells 100 million loaves of bread to consumers for $3.50 per loaf. Determine the GDP of this economy using the product approach and the expenditure approach.

In 2016, suppose a real estate agent sells a second-hand apartment (build in 1990) for 250,000. The estate agent charges commission of 1% of the sale price. How does this sale affect 2016 GDP?

The gross domestic product (GDP) of the United States is defined as the all 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 2023. 2023 GDP Scenario Included Excluded Gamewear, a U.S. electronics company, produces a VR headset at a plant in South Korea on March 11, 2023. Gamewear imports the VR headset into the United States on May 29, 2023. Ο Rotato, a U.S. tire company, produces a set of tires at a plant in Michigan on September 25, 2023. 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 2023. (Note: Focus exclusively on whether production of the set of tires increases GDP directly, and ignore the effect of production of the two-door coupe on GDP.) Larry's Lattes, a U.S. coffee company, produces a latte at its location in Los Angeles on January 6, 2023. It sells the latte to a…

BMW, a German owned company produces some of its cars (Mini Coopers) in South Carolina. In 2018 BMW made $32 million revenue from sales to Americans, $5 million from sales to Greeks and $4 million worth of automobiles added to BMW’s inventory. How much of these contribute to the US GDP for 2018?        Group of answer choices $36 million. $41 million $37 million $28 million

Problem #28- Last year, a small nation with abundant forests cut down $200 worth of trees. $100 worth of trees were then turned into $150 worth of lumber. $100 worth of that lumber was used to produce $250 worth of bookshelves. Assuming the country produces no other outputs, and there are no other inputs used in the production of trees, lumber, and bookshelves, what is this nation’s GDP? In other words, what is the value of the final goods produced including trees, lumber and bookshelves?

Government spending 50 Profit 28 Social Security contributions 20 Indirect business taxes 10 Corporate taxes 5 Imports 5 Personal income taxes 8 Exports Rent 54 Interest 5 Wages 231 Depreciation 10 Consumption expenditures 250 Government transfer payments 8 Gross Private Domestic Investment 40 Using the above table, the Disposable Personal Income (DPI) for the country is 293 0220 78 147

A Canadian company imported 100 TV sets from Korea for $250 each in 2018. The company sold 80 of them in 2018 for $450 each, and the rest in 2019 for $400 each. How much did these transactions contribute to Canada’s GDP in 2018?

What is Gross Domestic Product if investment spending is $1,879.99, households receive $170.17 in net interest income, wages equal $13,555.17, rental receipts on land are $1, total business profits before taxes are $1,611.03, and indirect business taxes are $1,329.47?  Assume all other types of income and depreciation are zero and that other values for potential components of GDP are unknown for this example.  Round your answer to two digits after the decimal.