In 2008, you buy a 1967 Shelby cobra.This purchase would
A)be included in the GDP for 2008.
B)not be included in the GDP for 2008.
C)be included in both the GDP for 1967 and 2008.
D)be in the GDP for 2008 at a depreciated value.

Question

Quizplus · Accepted Answer

The purchase of a used car, like a 1967 Shelby cobra, is not included in the GDP because it does not represent a new production of goods and services within the economy. The GDP only measures the value of final goods and services produced within a given time period. Therefore, the purchase of a previously produced car is not included in the GDP.

In 2008, You Buy a 1967 Shelby Cobra