MACROECONOMICS FOR TODAY
10th Edition
ISBN: 9781337613057
Author: Tucker
Publisher: CENGAGE L
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Chapter 5, Problem 8SQP
To determine
The calculation of
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The gross domestic product (GDP) of the United States is defined as
the _market value of v all
final goods and services produced
within the United States
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
2020.
2020 GDP
Scenario
Included Excluded
Fastlane, a Japanese automobile company, produces a sedan at a plant in Indiana on December 14, 2020. A family buys
the sedan on December 24.
Rotato, a U.S. tire company, produces a set of tires at a plant in Michigan on September 25, 2020. 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 2020.
(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.)
You chop down a cherry tree on your property in California and make a dining room table in…
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
2018.
2018 GDP
Scenario
Included
Excluded
Rotato, a U.S. tire company, produces a set of tires at a plant in Michigan on September 25, 2018. 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 2018.
(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.)
Roadway Motors, a U.S. automobile company, produces a convertible at a plant in Germany on March 27, 2018.
Roadway Motors imports the convertible into the United States on May 18, 2018.
The Jones family buys an antique silver platter at an auction in upstate New York on March 27, 2018.
Zippycar, a U.S.…
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.
Scenario
Generic Motor Company, a U.S. automobile company, produces a pickup truck at a manufacturing facility in Lordstown
on January 6, 2023. It sells the car at a dealership in Dallas on February 2, 2023.
Graincorp, a U.S. agricultural company, produces corn syrup at a plant in Iowa on September 25, 2023. It sells the corn
syrup to Crunchy's for use in the production of cereal that will be made in the United States in 2023. (Note: Focus
exclusively on whether production of the corn syrup increases GDP directly, and ignore the effect of production of the
cereal on GDP.)
Using wood from a red maple tree on your Michigan property you make a birdhouse in 2023. A similar birdhouse sells
for $55 in a craft store.
Sleepytown, a…
Chapter 5 Solutions
MACROECONOMICS FOR TODAY
Ch. 5.6 - Prob. 1YTECh. 5 - Prob. 1SQPCh. 5 - Prob. 2SQPCh. 5 - Prob. 3SQPCh. 5 - Prob. 4SQPCh. 5 - Prob. 5SQPCh. 5 - Prob. 6SQPCh. 5 - Prob. 7SQPCh. 5 - Prob. 8SQPCh. 5 - Prob. 9SQP
Ch. 5 - Prob. 10SQPCh. 5 - Prob. 11SQPCh. 5 - Prob. 12SQPCh. 5 - Prob. 13SQPCh. 5 - Prob. 1SQCh. 5 - Prob. 2SQCh. 5 - Prob. 3SQCh. 5 - Prob. 4SQCh. 5 - Prob. 5SQCh. 5 - Prob. 6SQCh. 5 - Prob. 7SQCh. 5 - Prob. 8SQCh. 5 - Prob. 9SQCh. 5 - Prob. 10SQCh. 5 - Prob. 11SQCh. 5 - Prob. 12SQCh. 5 - Prob. 13SQCh. 5 - Prob. 14SQCh. 5 - Prob. 15SQCh. 5 - Prob. 16SQCh. 5 - Prob. 17SQCh. 5 - Prob. 18SQCh. 5 - Prob. 19SQCh. 5 - Prob. 20SQ
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