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Name: ______________________________Date: ______________________Block: _______GDP SCENARIOSDirections: For each scenario below, determine if it is counted in GDP or not. If it IS counted in GDP, identify which part of GDP and if it will increase or decrease output. If it is NOT included in GDP, explain WHY and what effect it will have. USE YOUR NOTES!Included in GDP? (Yes or No)If YES, which part? (C, I, G, NX)If NO, why not?Effect on GDP (increase, decrease, no change)A farmer purchases a new tractor You spend $9 at the movies Worried about a recession, people begin saving more money. Businesses increase their current inventories of product. A person pays $450 to rent an apartment. The local school board closes schools for March due to weather. Cobb County purchases 10 used school buses. Kia builds a new factory in South Georgia. Your parents just bought a home built in 2004. Joe received $30 for mowing his neighbor’s lawn. A long-haul trucker had to buy a new truck when his broke down. The US gov’t sold 10 jets to Israel. A pair of Nikes made in China was sold at Town Center Mall. Your friend paints their own house. After filing taxes, your tax refund finally came in the mail. You babysit for your neighbor for $30. Home Depot sold lumber to a contractor building a new house. A stereo produced and sold in the US by a Japanese owned company.College tuition you pay to KSU.Grandma’s social security check.$4000 of Microsoft stock.The US Air Force purchases a fighter jet from Lockheed.You receive a US Savings Bond as a Graduation present.You purchase a new home.The purchase of $1000 of cocaine.You buy a hot dog at a Braves game.A 2017 Ford not sold in 2017. ................
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