Choose one or more: A. An example of a good whose production is counted in this year's GDP is a. a share of corporate stock b. a used book c. an acre of farm land d. a used car e. a new shirt: Definition. • Your IP: 128.199.164.111 Another way to prevent getting this page in the future is to use Privacy Pass. B. e). All other trademarks and copyrights are the property of their respective owners. Services, Working Scholars® Bringing Tuition-Free College to the Community. paying for an employee to take college courses. Question: Which of the following are counted in this year's GDP? Which of the following would be included in the calculation of GDP? Gross Domestic Product: Nominal vs. Real GDP, Gross Domestic Product: How to Calculate Real GDP, The GDP Deflator and Consumer Price Index, The Labor Force Participation Rate: Equation & Concept, GDP Deflator: Definition, Formula & Example, Investment Spending: Definition & Formula, How Real GDP per Capita Affects the Standard of Living, Gross Domestic Product: Using the Income and Expenditure Approaches, Inflation & Unemployment Relationship Phases: Phillips, Stagflation & Recovery, How to Find Per Capita Growth Rate of Populations, Consumer Price Index: Measuring the Cost of Living and Inflation, How the Reserve Ratio Affects the Money Supply, Price Level in Economics: Definition & Equation, Aggregate Supply and Aggregate Demand (AS-AD) Model, Money and Multiplier Effect: Formula and Reserve Ratio, Introduction to Macroeconomics: Help and Review, College Macroeconomics: Homework Help Resource, College Macroeconomics: Tutoring Solution, CLEP Principles of Macroeconomics: Study Guide & Test Prep, UExcel Introduction to Macroeconomics: Study Guide & Test Prep, Principles of Macroeconomics: Certificate Program, Macroeconomics for Teachers: Professional Development, UExcel Anatomy & Physiology: Study Guide & Test Prep, Economics 101: Principles of Microeconomics, Human Resource Management: Help and Review, Geography 101: Human & Cultural Geography, History 106: The Civil War and Reconstruction, Praxis Social Studies - Content Knowledge (5081): Study Guide & Practice, Intro to Excel: Essential Training & Tutorials, Biological and Biomedical In an economy, when the price level falls, consumers and firms buy more goods and services. b). Which of the following is an example of investment... John B. A: A piece of glass bought this year by a consumer to fix a broken window. Which of the following would be counted in U.S. GDP? Performance & security by Cloudflare, Please complete the security check to access. By eliminating the effects of price increases on GDP growth, What is the advantage of using the income approach to calculating GDP versus the expenditure approach. D. Nabisco's purchase of an oven to bake cookies. If so, explain how it enters GDP (C,I,G, or (X-M)) and why. Products that would be used in calculating GDP include, cars manufactured in Tennessee at a factory owned by a Japanese automobile company, The main economic scenarios that affect business cycles include all of the following EXCEPT. E. Your purchase of Hungarian hazelnuts to put in your cookies. Create your account. b). Explain your answer in each case. aggregate supply will decrease, raising the price level and lowering real GDP. Jose Suarez purchased 100 shares of Microsoft stock. A cake purchased from a bakery for a wedding. Which one of the following will be counted in the GDP of the U.S? Which of the following are counted in this year's GDP? C. The pentagon's purchase of flour to make cookies for soldiers. Consider the list of possible answers below to a... Why might GDP not be considered an accurate... A economy produced the following final goods and... 1. Concern about an international crisis has caused consumers to save their money and postpone big purchases. a. a new U.S.-produced radio bought by a Japanese citizen living in Kyoto Cloudflare Ray ID: 5ec72dda4c57dcc2 In a typical business cycle, what stage immediately follows a peak? a). GDP is an aggregate measurement that measures the overall aggregate demand for goods and services in the entire economy during a fiscal year. You bought a new Wii at GameStop last year and resold it on eBay this year. E: Term. How do fears of future economic problems affect GDP? The following table shows data on consumption,... A U.S. firm produces sweatshirts in the first... 32. Which of the following best describes capital deepening? Which of the following would be counted in this year's GDP See answers (1) Ask for details ; Follow Report Log in to add a comment to add a comment https://quizlet.com/78283025/chapter-12-economy-flash-cards Sciences, Culinary Arts and Personal (20 Points) Anita owns a house in NYC, and the imputed rental value of this house is $12,000 per year. Carriage Realty earned a brokerage commission for selling a previously owned bonds. Explain your answer in each case. Which of the following would be an accurate statement about the Great Depression? A retired worker receives a Social Security payment. Which of the following would be counted in this year's GDP? © copyright 2003-2020 Study.com. What is the effect on aggregate demand and aggregate supply? What is the difference between a recession and a depression? The gross domestic product (GDP) of a nation is an estimate of the total value of all the goods and services it produced during a specific period, usually a quarter or a year. This will not be included in this year's GDP, as the purchase of used cars has already been included in the... Our experts can answer your tough homework and study questions. Make sure to explain each of them separately with reasoning, as explained in the class. Which of the following would be counted as a final good for inclusion in GDP? The bonus check a worker receives this year. Consumers will spend less and save money in case of future econ problems affect them, GDP will be reduced. Juanita Jones cooked meals for her family. You may need to download version 2.0 now from the Chrome Web Store. Based on the circular flow model, money flows from households to businesses in If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware. Become a Study.com member to unlock this If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices. Flashy Car Company sold a used car. What is an example of a positive external shock to the economy? answer! f). If not, explain why not. Earn Transferable Credit & Get your Degree, Get access to this video and our entire Q&A library. You purchase an Investing for Dummies book at Barnes & Noble. Your purchase of flour to make cookies for your study group. Bob Smith received a welfare payment. it was the most severe economic downturn in the history.
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