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Economics gdp – To be, or not to be…counted? That is the question


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Name: _______________________ Date: _____________ Period: ____________


Economics

GDP – To be, or not to be…counted? That is the question
Directions: For each of the following, determine whether or not it is counted in GDP. If it’s counted, then tell me whether it’s Consumption, Investment, Government Spending, Net Exports, Rent, Wages, Interest or Profit. If it’s not counted, then explain why.


  1. Paris Hilton earns $7.50/hr working at the local grocery store.



  1. Koko purchases a brand new Nissan Leaf made in Smyrna.



  1. The United States Marine Corps invades Knoxville, TN and in the process spends $5 billion. Knoxville surrenders.



  1. On vacation, Kim Jong Un purchases a Goofy hat at Walt Disney’s Magic Kingdom. He then declares himself supreme leader of Tomorrow Land and makes all men get a haircut like his.



  1. My father-in-law receives a monthly check for the oil pumped off of his property.



  1. Intel spends $300 million building a semiconductor factory in San Jose, Costa Rica.



  1. Intel spends $300 million building a semiconductor factory in San Jose, California.



  1. Mr. Drake, Mr. Flynn, and Mr. Hall decide to start a boy band and purchase a used Volkswagen Euro Van in which to tour Tennessee.



  1. Lindsey Lohan buys a new John Deere Tractor for her organic farm in New Hampshire.



  1. John Deere Tractor receives payment from Lindsey Lohan for a new tractor.



  1. Warren Buffett receives a $500,000 stock dividend.



  1. Mr. Wolfe buys himself a $500,000 house that was built 50 years ago. It burns to the ground the next day. Uninsured.




  1. Rutherford County Schools builds a new high school…in Canada. Parents are angry because of the lengthy commute.




  1. Russian President Vladimir Putin orders a dozen Krispy Kreme glazed donuts and has them shipped to the Kremlin. He later hides in his office and eats the entire dozen without sharing.




  1. After leaving office, George W. Bush clears 50 acres of cedar on his ranch in Crawford, Texas and plants native live oaks. He then sells pollution permits to Al Gore so that Al can sequester the carbon emissions from his SUV.


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