A country's gross domestic product for a given time period is the total market value of all goods and services produced within the country's borders.
A country's gross domestic product for a given time period is the total market value of _____.(1 point)
Responses
all goods and service produced within the country's borders
all goods and service produced within the country's borders
all finished goods and services produced within the country's borders
all finished goods and services produced within the country's borders
all goods and services produced by the country's residents
all goods and services produced by the country's residents
all finished goods and services produced by the country's residents
5 answers
Which of the following products would be classified as a finished good?(1 point)
Responses
lumber sold to construction companies
lumber sold to construction companies
electrical wiring sold to automotive repair shops
electrical wiring sold to automotive repair shops
clothing dye sold to clothing manufacturers
clothing dye sold to clothing manufacturers
a hamburger sold at a fast food restaurant
Responses
lumber sold to construction companies
lumber sold to construction companies
electrical wiring sold to automotive repair shops
electrical wiring sold to automotive repair shops
clothing dye sold to clothing manufacturers
clothing dye sold to clothing manufacturers
a hamburger sold at a fast food restaurant
A finished good is a product that is completed and ready for sale to the end consumer. Therefore, the product that would be classified as a finished good is a hamburger sold at a fast food restaurant.
Which of the following would be considered investment in the calculation of GDP?(1 point)
Responses
A school district deposits excess funds into a savings account.
A school district deposits excess funds into a savings account.
A child places money under his mattress for safe keeping.
A child places money under his mattress for safe keeping.
A manufacturing firm builds a new plant in Mexico.
A manufacturing firm builds a new plant in Mexico.
An individual purchases stock in a company.
Responses
A school district deposits excess funds into a savings account.
A school district deposits excess funds into a savings account.
A child places money under his mattress for safe keeping.
A child places money under his mattress for safe keeping.
A manufacturing firm builds a new plant in Mexico.
A manufacturing firm builds a new plant in Mexico.
An individual purchases stock in a company.
In the calculation of GDP, investment refers to the purchase of goods that will be used to produce other goods and services in the future. Among the options provided, the most relevant choice would be:
A manufacturing firm builds a new plant in Mexico.
However, it's important to note that investment in this context generally refers to domestic investment. Building a plant in Mexico would count as an investment outflow and does not contribute to the GDP of the original country. Under typical GDP calculations, this specific example may not be included depending on the context (i.e., it would be positive for Mexico's GDP).
If you're looking for an investment that directly contributes to a domestic GDP calculation from the options provided, none do.