The gross domestic product (GDP) of the United States is defined as the (wholesale cost of/market value of/cost of producing) all (final and intermediate goods and services produced/final goods and services produced/final good and services consumed) (within the U.S./by U.S. citizens/by U.S.-owned Companies) 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.
Treetopplers, a U.S. lumber company, produces wood at a plant in Oregon on September 19, 2017. It sells the wood to Buildit and Partners, a developer, for use in the production of a new house that will be built in the United States in 2017. (Note: Focus exclusively on whether production of the wood increases GDP directly, and ignore the effect of production of the new house on GDP.)
a) 2017 GDP: Included ________________
b) 2017 GDP: Excluded _______________