Which of the following events would cause GDP for 2019 to increase?
A In November 2019, Jordan buys a house in Arizona that was built in April 2018.
B In October 2019Tiana eats tomatoes that she grew in her yard earlier that year
C In May 2019James buys a 2019 Honda Accord .
D None of the above are correct

GDP refers to a country's monetary value of all the finished goods and services produced in a particular year. GDP incorporates the value of products and services produced within the country's boundaries regardless of who produced them.

Economists calculate GDP for a particular year by considering only the finished goods or services in that year. They calculate GDP using either the income, expenditure or the production approach. In any of the approaches, only the Honda produced and sold in 2019 will add to the GDP of 2019. The products that were finished in 2018 were accounted for in GDP for 2018.

andromache andromache · Answer 2 · 2021-11-23T12:09:53+01:00

The event that case GDP for 2019 to increase is

C In May 2019 James buys a 2019 Honda Accord .

The following information should be considered:

GDP means the value that should be in the monetary terms with respect to the finished goods & services generated for a year.
It could be determine by various approaches.
Since the honda produced and sold in 2019 so this added to the GDP of 2019.

Therefore we can conclude that the correct option is c.

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