23.1 GDP Powerpoint41/2Excluded.All About GDPPart AIs this counted as part of the GDP?Which of the following are included and which are excluded in calculating the GDP? If the transaction isincluded, indicate which variable of the GDP formula is affected.GDP =C+I+G+ (X-M)1. Old MacDonald buys a new John Deere tractor to plow his fields.Included. Investmest2. Luigi the plumber purchases of a two-year old used truck.Excluded.>3. Mike the mechanic fixes the radiator on his own IROC Z twin turbo.4. Congress purchase of a new submarine fleet for the Navy. 4. Congress' purchase of a new submarine fleet for the Navy.5. A barber's income from cutting hair.6. The sale of a Corvette at a Spanish dealership.7. Root canal training for three new hygienists at Dr. Moore's dentist office.8. The purchase of a new pair of Nike running shoes. (*Nike manufactures in Indonesia)9. The installation of a new basketball court at Oakwood Public High School.10. The purchase of a vintage Miles Davis record at the Powder Springs Flea Market.

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ENGR.ECONOMIC ANALYSIS

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Chapter1: Making Economics Decisions

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Which of the following items is not part of the GDP calculation? Select one: a. Local citizens receiving medical care b. A person purchases a local car c. The government expands the highway between two main cities d. A number of unemployed citizens receive unemployment insurance benefit
Which of the following would be included in the level of an economy's GDP? Select one: a. Private purchases of government bonds b. Interest payments on government debt c. The purchase of a vehicle from overseas d. The construction of new houses and dwellings
Find the last year GDP data and the personal consumption expenditure data (in billions) for the US economy. Section 1: Domestic Product and Income
Which of the following are included in the year’s GDP? which are excluded? Explain your answers Coca-Cola builds a new bottling unit in the United states. Income of a tax accountant working for H&R block. The value of car batteries used in production of electric cars.
Discuss the Gross Domestic Product (GDP), highlighting the components and methods of calculating GDP.
Which spending category of GDP does each of the following transactions count in? Please enter the letter C, I, G, NX, or N to represent consumption, investment, government spending, net exports, or none. The government paid a total of $30,000 in subsidies to people who had installed solar panels on their homes . Bill spent his $400 social security check on rent and food . Company X produces $5,000 of wine this year but they do not sell it . Your parents pay $8,000 for tuition to UCF . The government pays $1 million to people it hires to collect census data
Determine if the following would be included (I) or excluded (E) from the calculation of GDP. (d) An increase in business inventories _______ (e) The income of a tax accountant working for a business _______ (f) Income received from interest on a corporate bond ________ (g) Business expenditures on pollution control equipment ______ (h) Dr. Jung grows tomatoes in his backyard for home consumption _______
GDP Deflator (NomGDP/Real GDP)*100 88.4 Assignment 3 Chapter 6. Determine if each of the following would be included or not included in USA GDP for 2020. All transactions occurred in 2020. Circle Yes or No 1. Rebecca real estate agent sells a house built in 2014 for $1,500,000. Yes No 2. $250,000 Bushels of wheat produced in 2020 were exported to Mexico. Yes No 3. Michael, a US citizen works over in Germany producing automobiles. Yes No 4. A Mickey Mantle Rookie card is sold on EBAY for $60,000. Yes No 5. John takes his family out for dinner at Shake Shack Dec 15,2020. Yes No 6. Quark company purchases $5,000,000 of new property, plant, and equipment. Yes No 7. The Government employees Higgs Inc. to repair the roads in Washington DC at a cost of $2,500,000. Yes No 8. Veronica secretly sells Marijuana out of her laundry mat and makes $750,000 revenue for 2020. Yes No 9. General Motors has $35,000,000 Work in Process inventory on Dec 31, 2020 Yes No
Which of the following transactions are or are not included in GDP? 1. The pollution created when building an electric car battery. 2. Your parent washes, dries, and folds your laundry. 3. You consume a meal at Jack in the Box. 4. You buy a Rolex watch on the streets of Redwood City. 5. You volunteer to help clean up at your church after services on Sunday. 6. You write a Yelp review of Dr. Eck's restaurant.
Which of the following is not included in GDP? 1) the payments for a chiropractor's services 2) cash income paid to a day laborer that is not reported to the tax authorities 3) the replacement of brake pads on your six-year-old vehicle 4) the fees for legal services rendered by your lawyer
The expenditures on tires by the Ford Motor Company are not included directly in GDP statistics while consumer expenditures on replacement tires are included. Why?

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