Business, 05.09.2020 03:01 loudenalexisp56lp0

The gross domestic product (GDP) of the United States is defined as all in a given period of time. Based on this definition, indicate which of the following transactions will be included in (that is, directly increase) the GDP of the United States in 2017. 2017 GDP
Scenario Included Excluded
Tasty's, a U. S. fast-food company, produces a hamburger at one of its many St. Louis locations on January 18, 2017. It sells the hamburger to a customer that same day.
An owner of cherry tree in Califonia chop down and make a dining room table in 2017. A similar table sells for $800 in a local furniture store.
Graincorp, a U. S. agricultural company produces corn syrup at a plant in Iowa on September 19, 2017. It sells the corn syrup to Crunchy's for use in the production of cereal that will be made in the United States in 2017.
Calculo, a U. S. electronics company produces a calculator at a plant in Indonesia on March 4, 2017. Calculo imports the calculator into the United States on May 28, 2017.
Chocolate Express, a Swiss chocolate company, produces a chocolate bar at a plant in Illinois on December 12, 2017. An elementary school student buys the chocolate bar on December 24.

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Tasty's, a U.S. fast-food company, produces a hamburger at one of its many St. Louis locations on January 18, 2017. It sells the hamburger to a customer that same day. - Included, increases GDP.

The hamburger is included in U.S. GDP because the hamburger is a final good: it is a consumer good that is sold directly to the customer.

An owner of cherry tree in Califonia chop down and make a dining room table in 2017. A similar table sells for $800 in a local furniture store. - Not included.

The dining table is not included because the cherry tree owner made it for his own consumption, not to be sold.

Graincorp, a U.S. agricultural company produces corn syrup at a plant in Iowa on September 19, 2017. It sells the corn syrup to Crunchy's for use in the production of cereal that will be made in the United States in 2017. - included.

The value of the corn syrup will be included in the value of the cereal once the cereal is made, and because the cereal is a final good, it is indirectly part of GDP.

Calculo, a U.S. electronics company produces a calculator at a plant in Indonesia on March 4, 2017. Calculo imports the calculator into the United States on May 28, 2017. - not included

Imported goods are not part of GDP, because they are by definition, goods that are not produced domestically, and GDP only includes domestic production.

Chocolate Express, a Swiss chocolate company, produces a chocolate bar at a plant in Illinois on December 12, 2017. An elementary school student buys the chocolate bar on December 24. - included

The Chocolate bar is included, even if it was produced by a Swiss Company. This is because the good was produced domestically, and is a consumer good, that is to say, a final good.

Answer from: Quest

3,500 beverages

explanation:

Answer from: Quest

The correct answer is "b) net income overstated, assets unaffected, liabilities understated, and owner's equity overstated."

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The gross domestic product (GDP) of the United States is defined as all in a given period of time. B...

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