Which of the following would be included in the USA GDP measure for 2004? All of
ID: 1102922 • Letter: W
Question
Which of the following would be included in the USA GDP measure for 2004?
All of the above would be included in the USA GDP measure for 2004.
In 2008 a large American farming corporation grows corn in Iowa and sells $150,000 worth of it to a Food Mix processing company in Arizona. The Food Mix processing company uses the corn to make corn tortillas and then sells the tortillas for $190,000 to a large American retailer which has stores all over the United States. The retail stores package the tortillas and sell them to customers for $240,000. All transactions take place in 2008. How much do the described transactions contribute to the GDP of 2008?
$150,000
In 2012, the economy of country Z had consumption of $2,200,000, exports of $65,000, investment of of $530,000 and imports of $80,000. The GDP was $3,355,000. How big were government purchases that year?
Which of the following are NOT reflected in the GDP?
a Social security benefits received by Adam, a resident of Utah, in 2004.Explanation / Answer
1. Answe is :
Tom's purchase of an American-made Stetson hat in 2004 in a store in Bozman, Montana.
Explanation: The expenditure method of calculating GDP will include this expense made by Tom in 2004.
Tom's purchase of an American-made Stetson hat in 2004 in a store in Bozman, Montana.
Explanation: The expenditure method of calculating GDP will include this expense made by Tom in 2004.
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.