final goods and services produced within the United States 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 2022.
Scenario
2022 GDP
Included
Excluded
Liberty Wheels, a U.S. automobile company, produces a sedan at a manufacturing facility in Bakersfield on January 14, 2022. It sells the car at a dealership in San Diego on February 12, 2022.
Using ghost peppers from a garden on your Mississippi property, you make hot sauce in 2022. Similar sauces sell for $6 in a grocery store.
Sakura Technologies, a U.S. gaming company, produces a gaming controller at a plant in Japan on March 27, 2022. Sakura Technologies imports the gaming controller into the United States on May 18, 2022.
Yeast Crafters, a U.S. yeast company, produces brewer’s yeast at a plant in Wisconsin on September 25, 2022. It sells the brewer’s yeast to Hoptopia Brew Works for use in the production of a new beer that will be made in the United States in 2022. (Note: Focus exclusively on whether production of the brewer’s yeast increases GDP directly, and ignore the effect of production of the new beer on GDP.)
The Federal Emergency Management Agency (FEMA) deposits funds into Mike’s checking account to help pay for his hurricane-related expenses.
Du Belgique Air, a Belgian household appliance company, produces a air fryer at a plant in New York on December 9, 2022. A chef-in-training buys the air fryer on December 24.