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2. Activities included (and not included) in the calculation of GDP The gross domestic product (GDP) of the United States is defined as the all
2. Activities included (and not included) in the calculation of 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 Graincorp, a U.S. agricultural company, produces corn syrup at a plant in Iowa on September 19, 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 O O exclusively on whether production of the corn syrup increases GDP directly, and ignore the effect of production of the cereal on GDP.) Thickburger, a U.S. fast-food company, produces a double cheeseburger at one of its many locations throughout the O O midwest on January 9, 2023. It sells the double cheeseburger to a customer that same day. An accountant starts a client's 2023 tax return on April 14, 2024, finishing it just before midnight on April 15, 2024. O O Sleepytown, a Finnish furniture company, produces a bed frame at a plant in Virginia on December 12, 2023. It sells the O O bed frame to a college student on December 24. Gamewear, a U.S. electronics company, produces a VR headset at a plant in South Korea on March 17, 2023. Gamewear O O imports the VR headset into the United States on May 21, 2023
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