Which of the following examples would be included in the calculated GDP?
A)A clothing manufacturer buys fabric from a textile producer.
B)Suzanne buys a love seat and chair for $85 at the yard sale on the corner.
C)Mr. Kelly buys a used lawn mower from his neighbour, Mr. Templeton.
D)A local ice cream store sells $17 000 worth of cones and sundaes on July 1.

Question

Quizplus · Accepted Answer

The sale of $17,000 worth of cones and sundaes at a local ice cream store would be included in the calculated GDP as it represents a final good or service produced within the country's borders during the specified time period. The other options involve intermediate goods or used goods, which are not counted in the GDP.

Which of the Following Examples Would Be Included in the Calculated