GDP

Which is a final product in a bakery?

• Cake
• Flour
• Eggs
• Sugar

Expectant parents buy supplies for the nursery. Would this be included in GDP?

• Yes - Consumer Spending

• Yes - Investment

• No - Intermediate goods

• No - Non-market activity

A higher GDP generally correlates to a(n) ___________ standard of living.

• higher

• lower

• unrelated

All of the following are excluded from GDP except

• non-market goods and services

• used goods

• environmental quality

• final goods and services

Aly spends $400 on used textbooks at the beginning of the semester in college.  Is this included in the GDP?

• YES
• NO

Is this counted in the GDP of the US?

A farmer's purchase of a new tractor.

• Yes

• No

Is this counted in the GDP of the US?

A plumber's purchase of a two-year-old truck from Craigslist.

• Yes

• No

Is this counted in the GDP of the US?

A new home that was recently built.

• Yes

• No

Is this counted in the GDP of the US?

The federal government purchases a new submarine for the US Navy.

• Yes

• No

Is this counted in the GDP of the US?

Your parents ask you to babysit your two younger siblings for the night.

• Yes

• No