The LG Corporation produced 24,000 smartphones in 2019. Only 4,000 smartphones remained unsold at the end of 2019. As a result:
A) only 20,000 smartphones should be included in GDP in 2019 as consumption expenditure
B) only 20,000 smartphones should be included in GDP in 2019 as consumption expenditure.
C) all 24,000 smartphones will be included in GDP in 2019, 20,000 as consumption expenditure and 4,000 as investment expenditure.
D) all 24,000 smartphones will be included in GDP in 2019, 20,000 as consumption expenditure and 4,000 as investment expenditure
E) only 20,000 smartphones are included in GDP in 2019; the remaining 4,000 are counted in GDP in 2020
F) only 20,000 smartphones are included in GDP in 2019; the remaining 4,000 are counted in GDP in 2020.
G) all 20,000 smartphones are initially counted in 2019 GDP as consumption expenditure, but they will be subtracted and added to 2020 GDP as the merchandise is sold
H) all 20,000 smartphones are initially counted in 2019 GDP as consumption expenditure, but they will be subtracted and added to 2020 GDP as the merchandise is sold.
Correct Answer:
Verified
Q186: Consider an economy that produces only smartphones
Q187: According to the information in Table:
Q188: (Table: Lemonade and Cookies) Use Table:
Q189: (Table: GDP of Switzerland) According to
Q190: (Table: Lemonade and Cookies) Use Table:
Q192: (Table: Lemonade and Cookies) Use Table:
Q193: In 2019, consumer spending was $7,000, government
Q194: (Table: Lemonade and Cookies) Use Table:
Q195: (Table: Lemonade and Cookies) Use Table:
Q196: (Table: Lemonade and Cookies) Use Table:
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents