Which of the following transactions would count in GDP? Instructions: You may select more than one answer. Click the box with a check mark for correct answers and click to empty the box for the wrong answers. check all that applyKerry buys a new sweater to wear this winter.Patricia receives a Social Security check.unansweredRoberto gives his daughter $50 for her birthday.unansweredLatika sells $1,000 of General Electric stock.unansweredKaren buys a new car.unansweredAmy buys a used car.
Question
Which of the following transactions would count in GDP? Instructions: You may select more than one answer. Click the box with a check mark for correct answers and click to empty the box for the wrong answers. check all that applyKerry buys a new sweater to wear this winter.Patricia receives a Social Security check.unansweredRoberto gives his daughter 1,000 of General Electric stock.unansweredKaren buys a new car.unansweredAmy buys a used car.
Solution
The transactions that would count in GDP are:
- Kerry buys a new sweater to wear this winter.
- Karen buys a new car.
These transactions are counted in GDP because they represent final goods and services that are newly produced within a country during a certain period.
The other transactions do not count in GDP for the following reasons:
- Patricia receives a Social Security check: This is a transfer payment, not a transaction for goods or services.
- Roberto gives his daughter $50 for her birthday: This is a monetary gift, not a transaction for goods or services.
- Latika sells $1,000 of General Electric stock: This is a financial transaction, not a transaction for goods or services.
- Amy buys a used car: This is a transaction for a used good, not a newly produced good. Transactions for used goods do not count in GDP because they were counted when the goods were produced and initially sold.
Similar Questions
Which of the following transactions is not included in GDP? Group of answer choices The purchases of shares in a bank that is traded on the Australian Stock Exchange All of the other options The purchase of a new car by a car rental company The purchase of a new building by the government. The new building will be used for a primary school.
Which of the following transactions is included in GDP calculations?A.Anne helps clean up her mother's house once a week.B.ED Co.Ltd purchases new debentures issued by Heyleys Co Ltd in the market.C.Rodger buys a new town house in Melbourne from the JK Builders.D.John sells his old car to purchase a new car.
Which of the following exchanges are not included in the calculation of GDP?Group of answer choicesUnderground activities; both legal and illegalGovernment expendituresTransfer paymentsBoth A and C
Which of the following transactions is included in the calculation of GDP? Group of answer choices The purchase of an apartment in the Melbourne Central Business District that was built in the 1960s The purchase of shares in a bank that is traded on the Australian Stock Exchange None of these options The purchase of a new computer by a university for educational purposes
Assume that a tire company sells four tires to an automobile company for $400, another company sells a compact disc player for $500, and the automobile company puts all of these items in or on a car that it sells for $20,000. In this case, the amount from these transactions that should be counted in GDP is:
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.