FILL IN THE BLANKS (A, B, or C)

The gross domestic product (GDP) of the United States is defined as the A. wholesale cost of, B. market value of, C. cost of producing all A. final goods and services consumed, B. final goods and services produced, C. final and intermediate goods and services produced A.by U.S. citizens, B. within the United States, C. U.S. - owned companies 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.

SCENARIO / answerer INCLUDED or EXCLUDED

Rotato, a U.S. tire company, produces a set of tires at a plant in Michigan on September 19, 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.)

INCLUDED or EXCLUDED ?

Awake Cafe, a U.S. coffee company, produces a latte at its location in Minneapolis on January 9, 2020. It sells the latte to a customer immediately.

INCLUDED or EXCLUDED ?

Chocolate Express, a Swiss chocolate company, produces a chocolate bar at a plant in Illinois on December 12, 2020. An elementary school student buys the chocolate bar on December 24.

INCLUDED or EXCLUDED ?

Calculo, a U.S. electronics company, produces a calculator at a plant in Indonesia on March 17, 2020. Calculo imports the calculator into the United States on May 21, 2020.

INCLUDED or EXCLUDED ?

You chop down a cherry tree on your property in California and make a dining room table in 2020. A similar table sells for $800 in a local furniture store.

INCLUDED or EXCLUDED ?