Question

Activities included (and not included) in the calculation ofGDP

The gross domestic product (GDP) of the United States is defined as the   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.

Scenario	2017 GDP
	Included	Excluded
An accountant starts a client's 2017 tax return on April 14, 2018, finishing it just before midnight on April 15, 2018.
Tasty's, a U.S. fast-food company, produces a hamburger at one of its many St. Louis locations on January 10, 2017. It sells the hamburger to a customer that same day.
Athleticus, a U.S. shoe company, produces a pair of sneakers at a plant in Vietnam on March 18, 2017. Athleticus imports the pair of sneakers into the United States on May 7, 2017.
Graincorp, a U.S. agricultural company, produces corn syrup at a plant in Iowa on September 30, 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. (Note: Focus exclusively on whether production of the corn syrup increases GDP directly, and ignore the effect of production of the cereal on GDP.)
Fastlane, a Japanese automobile company, produces a sedan at a plant in Indiana on December 1, 2017. A family buys the sedan on December 28.

Answer 1

The gross domestic product (GDP) of the United States is defined as the market value of all final goods and services by resources within the united states in a given period of time.

.

Scenario	2017 GDP
	Included	Excluded
An accountant starts a client's 2017 tax return on April 14, 2018, finishing it just before midnight on April 15, 2018.		Yes
Tasty's, a U.S. fast-food company, produces a hamburger at one of its many St. Louis locations on January 10, 2017. It sells the hamburger to a customer that same day.	Yes
Athleticus, a U.S. shoe company, produces a pair of sneakers at a plant in Vietnam on March 18, 2017. Athleticus imports the pair of sneakers into the United States on May 7, 2017.		Yes
Graincorp, a U.S. agricultural company, produces corn syrup at a plant in Iowa on September 30, 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. (Note: Focus exclusively on whether production of the corn syrup increases GDP directly, and ignore the effect of production of the cereal on GDP.)		Yes
Fastlane, a Japanese automobile company, produces a sedan at a plant in Indiana on December 1, 2017. A family buys the sedan on December 28.	Yes