Which of these products is added to 2023 U.S. GDP? A 2023 Ford F150 bought by a TSU student in Houston in 2023. Pickles bought by McDonalds to put on their Big Macs in 2023. An off-lease computer bought on eBay in 2023. A foreign-made TV bought in Houston in 2023.
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- Identify as included or not included in gdp You buy a classic 1965 Ford Mustang that is in perfect condition. The government buys 100 new F-22 Raptors fighter jet GMC Car Company buys 100 tons of steel use in car frames. You buy 100 shares of Apple stock as a retirement fund investment. Amazon builds a new warehouse in Austin BMW a German company produces new cars in South Carolina Jim makes dinner at home Betty takes her family to dinner at a restaurant Walter White sells $1 million dollars of illegal drugs : Included in GDP :: Not Included in GDPWhich of the following are included in GDP calculations? a. Cleaning services performed by Molly Maid Corporation b. Lawn-mowing services performed by a neighborhood child c. Drugs sold illegally on a local street comer d. Prescription drugs manufactured in the United States and sold at a local pharmacy e. A rug woven by hand in Turkey f. Air pollution that diminishes the quality of the air you breathe g. Toxic-waste cleanup performed by a local company h. Car parts manufactured in the United States for a car assembled in Mexico i. A purchase of 1,000 shares of IBM stock j. Monthly Social Security payments received by a retireeSouth Africa has a GDP of $10 billion (measured in U.S. dollars) and a population of 45 million. Ecuador has a GDP of $12 billion (measured in U.S. dollars) and a population of 4.5 million. Calculate per capita GDP for each country. Question 24 options: South Africa = $222.22; Ecuador = $2,666.67 South Africa = $22.22; Ecuador = $266.67 South Africa = $2222.22; Ecuador = $26,666.67 South Africa = $22.22; Ecuador = $2,666.67
- In each of the following cases, determine how much GDP and each of its components is affected (if at all). Rabia spends $200 to buy her husband dinner at the finest restaurant in Karachi. Sarah spends $1800 on a new laptop to use in her publishing business. The laptop was built in Sadia spends $1200 on a computer to use in her editing business. She got last year’s model on sale for a great price from a local manufacturer. General Motors builds $500 million worth of cars, but consumers only buy $470 million worth of them.As an economist with the World Bank you have been asked to measure the Gross Domestic Product for the US for 2019. You are told that the private consumption, gross domestic investment, government purchases and exports all add up to $ 24 trillion. You later learn that imports to the US in 2019 were $4 trillion. To get GDP, you should A. Ignore the $ 4 trillion because exports have already been included in the $ 24 trillion B. Add $ 4 trillion to $24 trillion because imports are used as inputs in the production of other goods in the US C. None of the above D. Subtract $4 trillion from $24 trillion because imports are not part of US domestic outputQuestion 15 Which of the following would be included in GDP, the purchase of staplers from Staples by a car dealership and by Carl for his kids to play with at home. Both are included in BDP Neither would be included in GDP Carl's purchase would be included but the car dealerships would not The car dealership's purchase would be included but Carl's would not Question 16 Which of the following would lead to growth in GDP Investment in plant and equipment by business Investments in stocks by your 401K Purchase of a home All of the above will lead to GDP growth
- Which of the following transactions or activities would be counted in your country’s GDP? Explain your answers. A transportation company acquires a fleet of second-hand vehicles. The same transportation company acquires 1.000 gallons of gas from a foreign company deducted from the net export component of GDP. You buy 10 short-term government bonds. A mining company acquires new government licenses to drill in land the company already owns. You pay for a new haircut at your local hairdresser. Foreign residents buy a bundle of your country’s food specialties on an online retail site. Your parents spend a whole day cooking meals to be handed out to their poorer neighbors. The local government acquires furniture for newly built schools. Two telecommunications companies merge. A non-profit organization buys an apartment to lodge their headquarters.How would each of the following transactions affect the GDP of the United States (Increase, decrease, or does not change)? The U.S. government pays $1 billion in salaries for government workers. GDP will... The U.S. government pays $1 billion to Social Security recipients. GDP will... The U.S. government pays a U.S. firm $1 billion for newly produced airplane parts. GDP will... The U.S. government pays $1 billion in interest to holders of U.S. government bonds. GDP will...a)A caterpillar tractor is made by a U.S firm producing in the United States. Is this production counted in GDP? b) A Toyota Avalon is made by a Japanese firm producing in the United States. Is this production counted in GDP? c) Brooks running shoes are made by a U.S firm producing in China. Is this production counted in GDP?
- Indicate whether each of the following transactions is included or not included in the GDP of the United States. a. A textbook is purchased by a student in New Jersey in yesterday. The book was made Hawaii just last week. b. Forty pounds of apples grown by a Washington farmer and traded this morning to his neighbor for ten pounds of honey. c. A hundred dollars paid to you for babysitting last night at a home near the university. The $100 was in cash with no records kept, i.e., under the table. d. The $90 purchase of materials by you made today at the Home Depot in Springfield. You plan to build a doghouse in your backyard yourself. The doghouse is for your dog. e. A fighter jet produced in Texas last month and sold this morning to Saudi Arabia. f. Eight tons of coal mined in West Virginia last month was sold today to a power plant in Tennessee. The power plant immediately started using the coat to generate power for over 30,000 homes and businesses in the Nashville area. g. Tom retired…Based on the GDP information in the table below for 2 countries: Country A Country B GDP per capita in 2020 $30,000 $25,000 GDP per capita in 2021 $32,000 $30,000 Group of answer choices Countries A and B have improved their standard of living in 2021, but A’s living standards have lowered compared to B. Country A has improved their standard of living in 2021 more than country B. Countries A and B have improved their standard of living in 2021 but A has higher standards of living than B. Country B has a higher GDP in 2021 than country A.For the country of Madagascar government spending was $15,000 in 2007. Consumption was $88,000, investment was $10,250, exports were $2500, and imports were $3500. What was GDP equal to?
