The gross domestic product (GDP) of the United States is defined as the________ all ________________________________ in a given period of time.
Based on this definition, indicate which of the following transactions will be included in (that is, directly increase) the GDP of the United States in 2015.
A) Calculo, a U.S. electronics company, produces a calculator at a plant in Indonesia on March 27, 2015. Calculo imports the calculator into the United States on May 18, 2015.
The Jones family buys an antique silver platter at an auction in upstate New York on March 27, 2015.
B) Sofaland, a Swedish furniture company, produces a table at a plant in Virginia on December 9, 2015. It sells the table to a college student on December 24.
C) Graincorp, a U.S. agricultural company, produces corn syrup at a plant in Iowa on September 25, 2015. It sells the corn syrup to Crunchy's for use in the production of cereal that will be made in the United States in 2015. (Note: Focus exclusively on whether production of the corn syrup increases GDP directly, and ignore the effect of production of the cereal on GDP.)
D) Tasty's, a U.S. fast-food company, produces a hamburger at one of its many St. Louis locations on January 14, 2015. It sells the hamburger to a customer that same day.