Question

Activities included (and not included) in the calculation of GDP

Answer 1

Answer:

Gross Domestic Product

Activities included and excluded:

1. The gross domestic product (GDP ) of the United States is defined as the monetary value of all finished goods and services in a given period of time.  The important thing to note here is that GDP is the market value of all final goods and services produced within a country in a given period of time.  This means that intermediate goods are not included.

2. Indication of Inclusion or Exclusion in 2018 GDP:

a) Calculo = excluded

b) Rotato = included

c) An accountant = excluded because of year, 2019

d) Fastline = included

e) Awake = included

Explanation:

1) The importation of the calculator into the United States does not form part of domestic production, and as such will be excluded.

2) Rotato's production on September 25, 2018 will be included, with an exclusive focus on whether the production of the set of tires increases GDP directly.

3) The accountant's work would have been included if it were done in 2018.

4) Fastlane's production will be included.

5) Awake's production will be included.