2. Activities included (and not included) in the calculation ofGDP 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 2020 2020 GDP Included Excluded Scenario An accountant starts a client's 2020 tax return on April 14, 2021, finishing it just before midnight on April 15, 2021. Zippycar, a U.S. automobile company, produces convertible at a manufacturing plant in Minneapolis on January 6, 2020. It sells the car at a dealership in Detroit on February 2, 2020. O Roadway Motors, a U.S. automobile company, produces a convertible at a plant in Germany on March 11, 2020. Roadway Motors imports the convertible into the United States on May 29, 2020. O Treetopplers, a U.S. lumber company, produces wood at a plant in Oregon on September 25, 2020. It sells the wood to Buildit and Partners, a developer, for use in the production of a new house that will be built in the United States in 2020. (Note: Focus exclusively on whether production of the wood increases GDP directly, and ignore the effect of production of the new house on GDP.) O O Chocolate Express, a Swiss chocolate company, produces a chocolate bar at a plant in Illinois on December 14, 2020. An elementary school student buys the chocolate bar on December 24. O o 2. Activities included (and not included) in the calculation ofGDP The gross domestic product (GDP) of the United States is defined as the all in a given period of time. market value of Based on this definition, indicate which of the following transactions will 2020. wholesale cost of is, directly increase) the GDP of the United States in cost of producing 2020 GDP Included Excluded Scenario An accountant starts a client's 2020 tax return on April 14, 2021, finishing it just before midnight on April 15, 2021. Zippycar, a U.S. automobile company, produces a convertible at a manufacturing plant in Minneapolis on January 6, 2020. It sells the car at a dealership in Detroit on February 2, 2020. O Roadway Motors, a U.S. automobile company, produces a convertible at a plant in Germany on March 11, 2020. Roadway Motors imports the convertible into the United States on May 29, 2020. o o Treetopplers, a U.S. lumber company, produces wood at a plant in Oregon on September 25, 2020. It sells the wood to Buildit and Partners, a developer, for use in the production of a new house that will be built in the United States in 2020. (Note: Focus exclusively on whether production of the wood increases GDP directly, and ignore the effect of production of the new house on GDP.) o Chocolate Express, a Swiss chocolate company, produces a chocolate bar at a plant in Illinois on December 14, 2020. An elementary school student buys the chocolate bar on December 24. O 2. Activities included (and not included) in the calculation ofGDP The gross domestic product (GDP) of the United States is defined as the all in a given period of time. final and intermediate goods and services produced transactions will be included in that is, directly increase) the GDP of the United States in final goods and services produced final goods and services consumed Scenario An accountant starts a client's 2020 tax return on April 14, 2021, finishing it just before midnight on April 15, 2021. 2020 GDP Included Excluded Zippycar, a U.S. automobile company, produces a convertible at a manufacturing plant in Minneapolis on January 6, 2020. It sells the car at a dealership in Detroit on February 2, 2020. Roadway Motors, a U.S. automobile company, produces a convertible at a plant in Germany on March 11, 2020. Roadway Motors imports the convertible into the United States on May 29, 2020. o Treetopplers, a U.S. lumber company, produces wood at a plant in Oregon on September 25, 2020. It sells the wood to Buildit and Partners, a developer, for use in the production of a new house that will be built in the United States in 2020. (Note: Focus exclusively on whether production of the wood increases GDP directly, and ignore the effect of production of the new house on GDP.) Chocolate Express, a Swiss chocolate company, produces a chocolate bar at a plant in Illinois on December 14, 2020. An elementary school student buys the chocolate bar on December 24. 2. Activities included (and not included) in the calculation ofGDP The gross domestic product (GDP) of the United States is defined as the in a given period of time. by U.S. citizens s, directly increase) the GDP of the United States in Based on this definition, indicate which of the following transacti 2020. within the United States by U.S.-owned companies 2020 GDP Included Excluded Scenario An accountant starts a client's 2020 tax return on April 14, 2021, finishing it just before midnight on April 15, 2021. Zippycar, a U.S. automobile company, produces a convertible at a manufacturing plant in Minneapolis on January 6, 2020. It sells the car at a dealership in Detroit on February 2, 2020. Roadway Motors, a U.S. automobile company, produces a convertible at a plant in Germany on March 11, 2020. Roadway Motors imports the convertible into the United States on May 29, 2020. O Treetopplers, a U.S. lumber company, produces wood at a plant in Oregon on September 25, 2020. It sells the wood to Buildit and Partners, a developer, for use in the production of a new house that will be built in the United States in 2020. (Note: Focus exclusively on whether production of the wood increases GDP directly, and ignore the effect of production of the new house on GDP.) O o Chocolate Express, a Swiss chocolate company, produces a chocolate bar at a plant in Illinois on December 14, 2020. An elementary school student buys the chocolate bar on December 24. O
