Indicate which of the transactions in the following table will be included in (that is, directly increase) the GDP of the United States in 2017.
2017 GDP:
Transaction Included / Excluded
1. Treetopplers, a U.S. lumber company, produces wood at a plant in Oregon on September 19, 2017. 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 2017. (Note: Focus exclusively on whether production of the wood increases GDP directly and ignore the effect of production of the new house on GDP.)
2. An accountant starts a client's 2017 tax return on April 14, 2018, finishing it just before midnight on April 15, 2018.
3. Tasty's, a U.S. fast-food company, produces a hamburger at one of its many St. Louis locations on January 18, 2017. It sells the hamburger to a customer that same day.
4. Athleticus, a U.S. shoe company, produces a pair of sneakers at a plant in Vietnam on March 4, 2017. Athleticus imports the pair of sneakers into the United States on May 28, 2017.
5. Sofaland, a Swedish furniture company, produces a table at a plant in Virginia on December 12, 2017. It sells the table to a college student on December 24, 2017.

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jepessoa jepessoa · Answer 1 · 2020-02-11T19:36:22+01:00

Answer:

1. NOT INCLUDED IN THE GDP, TREETOPPLERS PRODUCES INTERMEDIATE GOODS, NOT FINAL GOODS.

2. NOT INCLUDED IN THE 2017 GDP, IT WOULD BE INCLUDED IN THE 2018 GDP SINCE THE SERVICE WAS FINISHED IN APRIL 2018.

3. INCLUDED IN THE GDP, A HAMBURGER IS A FINAL GOOD THAT FALLS UNDER PRIVATE CONSUMPTION.

4. NOT INCLUDED IN THE GDP, IMPORTS ACTUALLY DECREASE THE GDP SINCE THEY DECREASE NET EXPORTS.

5. INCLUDED IN THE GDP, A TABLE IS A FINAL GOOD THAT FALLS UNDER PRIVATE CONSUMPTION.