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2 years ago

The gross domestic product (GDP) of the United States is defined as the all ___ in a given period of time.

Business

1 answer:

Bess [88]2 years ago

7 0

Answer:

MARKET VALUE OF

FINAL GOODS AND SERVICES, PRODUCED IN THE U.S.

NOT INCLUDED

INCLUDED

NOT INCLUDED

Explanation:

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

Net export = exports – imports

When exports exceed import there is a trade deficit and when import exceeds import, there is a trade surplus.

Items not included in the calculation off GDP includes:

1. services not rendered to oneself

2. Activities not reported to the government

3. illegal activities

4. sale or purchase of used products

5. sale or purchase of intermediate products

a. the tire sold is not included in US GDP because it is an intermediate good. An intermediate good is a good that is used in the production of other goods. The tire is used as an input in the production of a two-door coupe

b. The car would be included as part of business spending in US GDP

C. The table would be included in GDP as part of consumption spending on durables

d. Services rendered to ones self is not recorded in GDP

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2 years ago

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3 years ago

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ANTONII [103]

Answer:

The correct answer is E

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3 years ago

Rory Company has a machine with a book value of $75,000 and a remaining five-year useful life. A new machine is available at a c

Alborosie

Answer: $7,500

Explanation:

In calculating the Incremental income we will add the amount of variable Manufacturing costs Rory Company will save as well as the income they will get from selling the old machine and then subtract the cost price of the new machine.

Starting off we will calculate the amount of savings they will make by using the new machine,

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= $7,500

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If you need any clarification do comment.

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3 years ago

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