The gross domestic product (GDP) of the United States is defined as 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 2017.
a. Rotato, a U. S. tire company, produces a set of tires at a plant in Michigan on September 3, 2016. It sells the set of tires to Speedmaster for use in the production of a two-door coupe that will be made in the United States in 2016. (Note: Focus exclusively on whether the production of the set of tires increases GDP directly, and ignore the effect of the production of the two-door coupe on GDP.)
b. You chop down a cherry tree on your property in California and make a dining room table in 2017. A similar table sells for $800 in a local furniture store.
c. Sofaland, a Swedish furniture company, produces a table at a plant in Virginia on December 5, 2017. It sells the table to a college student on December 24.
d. Zippycar, a U. S. automobile company, produces a convertible at a manufacturing plant in Minneapolis on January 21, 2017. It sells the car at a dealership in Houston on February 10, 2017.
e. Roadway Motors, a U. S. automobile company, produces a convertible at a plant in Germany on March 10, 2017. Roadway Motors imports the convertible into the United States on May 20, 2017.
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