Aliyah bought a new shirt at a store in Houston. The shirt was made in Singapore by a U.S. company. Does her purchase contribute to the GDP of the United States? Explain.

Answer: No, because GDP is the final value of the goods and services produced within the geographic boundaries of a country during a specified period of time, and the shirt was made in Singapore.

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codiepienagoya codiepienagoya · Answer 2 · 2021-10-22T15:14:47+02:00

The gross domestic product is a monetary measurement of the value of all the final goods and producing services during a given time frame.

It is significant because it provides information on the size & performance of an economy.
Its rate of increase in real GDP is commonly used as an indication of the overall health of the economy.

In the given scenario, the answer is "No" since GDP is the final worth of goods and produced services inside a country's territorial limits during a given time, whereas the shirt was made in Singapore.

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