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.Scenario2020 GDP Excluded Included Athleticus, a U.S. shoe company, produces a pair of sneakers at a plant in Vietnam on March 17, 2020. Athleticus imports the pair of sneakers into the United States on May 21, 2020. The Jones family buys an antique silver platter at an auction in upstate New York on March 17, 2020. Fastlane, a Japanese automobile company, produces a sedan at a plant in Indiana on December 12, 2020. A family buys the sedan on December 24. 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.) Tasty's, a U.S. fast-food company, produces a hamburger at one of its many St. Louis locations on January 9, 2020. It sells the hamburger to a customer that same day.

The variable that includes the monetary value of final goods and services that are being produced…

Answered: ased on this definition, indicate which…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Question

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	2020 GDP
	Excluded	Included
Athleticus, a U.S. shoe company, produces a pair of sneakers at a plant in Vietnam on March 17, 2020. Athleticus imports the pair of sneakers into the United States on May 21, 2020.
The Jones family buys an antique silver platter at an auction in upstate New York on March 17, 2020.
Fastlane, a Japanese automobile company, produces a sedan at a plant in Indiana on December 12, 2020. A family buys the sedan on December 24.
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.)
Tasty's, a U.S. fast-food company, produces a hamburger at one of its many St. Louis locations on January 9, 2020. It sells the hamburger to a customer that same day.

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions