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.

A stay at home dad grows his own vegetables, cleans the house, and cooks dinner O Included in GDP Not Included in GDP

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

Which of the following transactions are or are not included in GDP?  1. The pollution created when building an electric car battery. 2. Your parent washes, dries, and folds your laundry. 3. You consume a meal at Jack in the Box.  4. You buy a Rolex watch on the streets of Redwood City.  5. You volunteer to help clean up at your church after services on Sunday. 6. You write a Yelp review of Dr. Eck's restaurant.