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Answer :
Final answer:
In calculating GDP, only goods and services produced within a country's borders are considered, irrespective of the nationality of the firms. Hence, both the plastic produced in Kentucky and the cars produced in Tennessee would count towards GDP, while the cotton cloth produced in India and the toys made in China would not.
Explanation:
The GDP (Gross Domestic Product) measures the economic activity within a country. It includes all the goods and services produced, regardless of the nationality of the firm producing them. However, it doesn't include goods or services produced by firms located abroad even if they are owned by domestic companies.
Therefore, to answer your question:
- a.plastic manufactured in a factory in Kentucky and sold to toy manufacturers around the world to make plastic toys
- b.cars manufactured in Tennessee at a factory owned by a Japanese automobile company
Both a and b would be used in calculating GDP as they are produced within the domestic borders of the US.
c.cotton cloth manufactured in India and sold to clothes makers in the United States and d.toys manufactured in China at a factory owned by a U.S. company would not be used in calculating the GDP as they are not produced within the U.S.
Learn more about Gross Domestic Product here:
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