Free response questions. Answer each question in detail using complete sentences. Use as much economic vocabulary as you can.
1. Economic Indicators
Which of these goods would be counted in the calculation of U. S. GDP? Explain why? Which of these
goods would not be counted in GDP? Explain why?
a. Ford Cars produced in Detroit, Michigan.
b. Federal Investment in bridges.
c. Samsung Phones imported from China.
d. Used Refrigerators sold on Craigslist.
e. Tools purchased by a Minnesota home builder.

Refers to the way we conduct ourselves

Paar corporation bought 100 percent of kimmel, inc., on january 1, 2012. on that date, paar’s equipment (10-year life) has a book value of $420,000 but a fair value of $520,000. kimmel has equipment (10-year life) with a book value of $272,000 but a fair value of $400,000. paar uses the equity method to record its investment in kimmel. on december 31, 2014, paar has equipment with a book value of $294,000 but a fair value of $445,200. kimmel has equipment with a book value of $190,400 but a fair value of $357,000. the consolidated balance for the equipment account as of december 31, 2014 is $574,000. what would be the impact on consolidated balance for the equipment account as of december 31, 2014 if the parent had applied the initial value method rather than the equity method? the balance in the consolidated equipment account cannot be determined for the initial value method using the information given. the consolidated equipment account would have a higher reported balance. the consolidated equipment account would have a lower reported balance. no effect: the method the parent uses is for internal reporting purposes only and has no impact on consolidated totals.

Blank is the internal operation that arranges information resources to support business performance and outcomes