GDP(10 points)

2006-11-14 8:58 am

A)explain whether each of the following statements is true or false.
1)Jim bought a new car in August 2004 and then sold it to John in June 2006 .As a result , the value of the car would be included in 2006 GDP only ,since that was the year of the last sale.
2)peter and paul ,who are both full-time students,used to work on their own cars .Now peter decides to hire pal to repair the car radio, and in turn ,paul hires peter to keep his car clean. As a result of these new arrangements ,GDPrises.

回答 (1)

用戶108057

2006-11-14 11:25 am

✔ 最佳答案

GDP is the total value of final goods and services produced by all resident producing units in a country or territory within a period of time, usually one year.

First statement is false.
As the car was produced in 2004, the value of car should be included in 2004 GDP, not 2006 GDP, unless there is a growth of value in the sale.

Second statement is false.
As Peter and Paul are full-time student, they were not included in labour force as they are unavailable to work. Their production of repairing and cleaning the car should be excluded in GDP accounting, although it can be regarded as production.

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