Whats the right answer
Which of the following goods would be included in the calculation of gross domestic product? Select the two correct answers.(1 point)
Responses
French fries sold to customers at a restaurant.
French fries sold to customers at a restaurant.
Lumber sold to construction firms.
Lumber sold to construction firms.
Steel sold to an automobile manufacturer.
Steel sold to an automobile manufacturer.
Chemicals sold to pharmaceutical developers.
Chemicals sold to pharmaceutical developers.
Notebooks sold to students.
The correct answers for goods included in the calculation of gross domestic product are:
- French fries sold to customers at a restaurant.
- Lumber sold to construction firms.
These goods are both considered final goods, meaning they are sold to the end user and not used for further production. This makes them eligible for inclusion in the calculation of gross domestic product.
The correct answers are:
1. French fries sold to customers at a restaurant.
2. Lumber sold to construction firms.
Both of these goods are tangible products that are sold in the market, making them part of the calculation of gross domestic product (GDP).
The correct answers would be:
1. French fries sold to customers at a restaurant.
2. Lumber sold to construction firms.
To determine which goods would be included in the calculation of gross domestic product (GDP), we need to understand what GDP measures. GDP is the total value of all final goods and services produced within a country's borders in a specific time period.
In this case, the goods that are sold to customers at a restaurant and lumber sold to construction firms are considered final goods. Final goods are those that are purchased by the end consumer or used as inputs in the production of other final goods. These transactions directly contribute to economic activity and are included in the calculation of GDP.
The other options like steel sold to an automobile manufacturer, chemicals sold to pharmaceutical developers, and notebooks sold to students would be considered intermediate goods or inputs. Intermediate goods are goods that are used in the production of other goods or services and are not directly consumed or sold to the end consumer. These goods are excluded from the GDP calculation to avoid double-counting since their value is already included in the final goods and services they are used to produce.
Therefore, the two correct answers for goods included in the calculation of GDP are French fries sold to customers at a restaurant and lumber sold to construction firms.