Ahlam grows carrots in her garden for home consumption. This activity is: a. Excluded from GDP because an intermediate good is involved b. Productive but is excluded from GDP because no market transaction takes place. c. None of the above. d. Excluded from GDP to avoid double counting
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- Tom Atoe grows tomatoes for home consumption. This activity is: a. Productive but is excluded from GDP because no market transaction occurs. b. Included in GDP because it reflects production c. Excluded from GDP in order to avoid double counting. d. Excluded from GDP because an intermediate good is involved.Which of the following would be counted as afinal good for inclusion in GDP?a. A piece of glass bought this year by a consumerto fix a broken window.b. A sheet of glass produced this year by Ford touse for windows in a new car.c. A tire produced this year and sold to a carmaker for a new car sold this year.d. None of the answers are correct.The service which an elder brother performs when he stays at home to look after his baby sister while his parents are away and for which he receives no payment is not included in the calculation of GDP because: A. B. C. D. E. it is a non-market transaction. it is an example of double-counting. it is non-productive transaction. it is only included in real gross domestic product. it is a non-investment transaction.
- Which of the following is a short coming of GDP? a.GDP excludes changes in inventries. b.GDP includes an estimate of illegal transactions. c.GDP exclude nonmarket transations. d.GDP excludes business investment spending.Adam lives in California and, after graduating college, opened up an ice cream business on the Venice Beach boardwalk. Which items are not counted in GDP? Select all that apply and explain why each of the items you selected is not counted in GDP. a. Adam purchases a new sub-zero refrigerator for his ice cream shop. b. The neighborhood kids broke Adam's window at the ice cream shop during a baseball game. Adam replaces the window. c. After a successful summer, Adam travels to Egypt to visit the Red Sea. d. Adam sells his used accounting textbook to his best friend Billy. e. Adam spends a Saturday afternoon mowing his elderly neighbor's lawn. He earns $100 cash that day.Value-Added to GDP Question. Production Value of Input Value of Output Value Added Coffee Bean farming $0 A B Processing Coffee $7.00 C $3.00 Distributing Coffee D 11.50 E Selling Coffee to customers F G $4.50 a. Fill in the table above. The values for values of inputs, outputs, and value added. I listed them as A, B, C, D, E, F, G. So in your answer in the text box just type is A = ? B = ? C = ? D = ? E = ? F = ? G = ? 1. How much is added to GDP from this production activity?
- A. For each of the following examples, state if you think it is included in the 2010 calculation for the Philippine GDP. A 1962 Camaro sold to a collector in February 2010. A tractor produced by local automobile company in May 2010 and sold to a farmer in September 2010. A cell phones produced in August 2010 in Shanghai China. A car produced in Philippines in 2010, but sold to a customer in January 2011. Nonmarket goods such as homemaking and child-rearing. The benefits of clean air and water. Estimated values of activity in the underground economy. Purchases and sales of goods produced in previous periods. Government pay its fiscal debt interest in 2010. The sale of a new car from a manufacturer’s inventory in 2010. Imported rice from Thailand. The purchase of a watch from a Swiss company in the Philippines. Mang Juan’s house constructed in 2009. A company invest in building a new plant in middle of the year 2010 and to be done at the end of the…Which of the following is a shortcoming of GDP?a. GDP excludes changes in inventories.b. GDP includes an estimate of illegaltransactions.c. GDP excludes nonmarket transactions.d. GDP excludes business investment spending.A farmer sells five pounds of pecans to a Smith’s Fresh Pecans for $10. Smith’s Fresh Pecans resells three pounds for $4.50 per pound. The remaining pecans are shelled and canned and sold for a total of $8.00 Taking these transactions into account, how much is added to GDP? a. $22.50 b. $29.50 C. $21.50 D. $31.50
- What counts as GDP (I)? By how much does GDP rise in each of the follow-ing scenarios? Explain. (a) You spend $5,000 on college tuition this semester.(b) You buy a used car from a friend for $2,500.(c) Te government spends $100 million to build a dam. (d) Foreign graduate students work as teaching assistants at the local uni-versity and earn $5,000 each.A farmer grows a bushel of wheat and sells it to a Miller for $20.00. The Miller turns the wheat into flour and then sells it to a Baker for $25.00. The Baker uses the flour to bake bread and sells the bread to a Musician for $40.00. The Musician eats the bread. The Musician, also grows pumpkins in his backyard garden to feed his family. a) Why does GDP not include goods that are resold? b) why is it desirable for a country to have a large GDP?1.Which items directly add to GDP? Group of answer choices Microsoft sells 10 computers to UCF [ Choose ] yes no Ford buys tires from Goodyear to install on new cars [ Choose ] yes no Edna buys some antique furniture that she plans to sell at a later date in her store [ Choose ] yes no George buys a 4-year old car at CarMax [ Choose ] yes no
