A tractor built in 2001 and still in operation today is:
A) part of today's national wealth and GDP.
B) part of today's national wealth but not part of today's GDP.
C) part of today's GDP but not part of today's national wealth.
D) not part of today's national wealth nor today's GDP.

Question

Quizplus · Accepted Answer

The tractor from 2001 is part of today's national wealth because it still has value and can be used for production. However, it is not part of today's GDP because GDP only measures the value of goods and services produced within a given period, usually a year. Since the tractor was not produced or sold in the current year, it is not included in GDP for the current year.

A Tractor Built in 2001 and Still in Operation Today