Which of the following are included in the year’s GDP? which are excluded? Explain your answersCoca-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.

Answered: Which of the following are included in…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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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.

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GDP comprises of expenditure carried out by domestic or foreign players on the production of domestic goods and services during a particular period of time. It excludes the value of intermediate goods and sale of old goods to avoid overestimation of GDP.

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