Question

In 2017, Ozzie purchased a 2014 Ford Escort from his neighbor for his son, purchased a 2013 "one owner" Camry from Larchmont Toyota for his wife, bought a 2017 new Ford for himself, and sold his 2006 Dodge Caravan to his teenage nephew. Which, if any, of these transactions will be included in GDP in 2017?

Answer 1

Answer:

Ozzie's purchase of the 2017 new Ford would be included in GDP

Explanation:

Gross domestic product is the sum of all final goods and services produced in an economy within a given period which is usually a year.

Only goods produced in a given year would be included in the calculation of GDP.

Its only the 2017 new Ford that produced in 2017 that would be counted as part of 2017's GDP

I hope my answer helps you