Question

In 2013, Brian purchased a 2010 Ford F-150 from his neighbor for his son, purchased a 2009 "one owner" Toyota Camry from Larchmont Toyota for his wife, bought a new 2013 Nissan Versa for himself, and sold his 2002 Dodge Caravan to his teenage nephew. Which, if any, of these transactions will be included in GDP in 2013?

	A.	Only the purchase of the Nissan.
	B.	The purchase of the Ford and the Caravan.
	C.	All four transactions.
	D.	All three purchases, but not the sale.

Answer 1

Answer

Option A
Only the purchase of the Nissan

The GDP is a sum of final goods and services and produced within a country in a period

The good should be new and not old to be included in a GDP as it shoud be produced in the same period but the other things except Nissan are produced in different years so these are not added in the GDP.