
Macroeconomics 6th Edition by Robert Hall,Marc Lieberman
Edition 6ISBN: 978-1111822354
Macroeconomics 6th Edition by Robert Hall,Marc Lieberman
Edition 6ISBN: 978-1111822354 Exercise 1
Using the expenditure approach, which of the following would be directly counted as part of U.S. GDP? For those that count, state whether the action causes an increase in C, I, G, or NX. (If you need to make any special assumptions, state them.)
a. A new personal computer produced by IBM, which remained unsold at the year's end
b. A physician's services to a household
c. Produce bought by a restaurant to serve to customers
d. The purchase of 1,000 shares of Disney stock
e. The sale of 50 acres of commercial property
f. A real estate agent's commission from the sale of property
g. A transaction in which you clean your roommate's apartment in exchange for his working on your car
h. An Apple iMac computer produced in the United States and purchased by a French citizen
i. The government's Social Security payments to retired people
a. A new personal computer produced by IBM, which remained unsold at the year's end
b. A physician's services to a household
c. Produce bought by a restaurant to serve to customers
d. The purchase of 1,000 shares of Disney stock
e. The sale of 50 acres of commercial property
f. A real estate agent's commission from the sale of property
g. A transaction in which you clean your roommate's apartment in exchange for his working on your car
h. An Apple iMac computer produced in the United States and purchased by a French citizen
i. The government's Social Security payments to retired people
Explanation
Gross Domestic Product ( GDP ) is define...
Macroeconomics 6th Edition by Robert Hall,Marc Lieberman
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