2. Categories of expenditures Larry and Megan Stein live in Swarthmore, PA. Megan's father, Raphael, lives in Sweden. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction I G X The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore. Megan gets a new refrigerator made in the United States. Larry's employer upgrades all of its computer systems using U.S.-made parts. Larry buys a sweater made in Guatemala. Megan's father in Sweden orders a bottle of Vermont maple syrup from the producer's website. O O O O O O O O O

2. Categories of expenditures Larry and Megan Stein live in Swarthmore, PA. Megan's father, Raphael, lives in Sweden. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction I G X The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore. Megan gets a new refrigerator made in the United States. Larry's employer upgrades all of its computer systems using U.S.-made parts. Larry buys a sweater made in Guatemala. Megan's father in Sweden orders a bottle of Vermont maple syrup from the producer's website. O O O O O O O O O

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Please give a detailed solution with an explanation.

2. Categories of expenditures
Larry and Megan Stein live in Swarthmore, PA. Megan's father, Raphael, lives in Sweden.
For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C),
investment (I), government purchases (G), exports (X), or imports (M). Check all that apply.
Transaction
G
X
The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore.
Megan gets a new refrigerator made in the United States.
Larry's employer upgrades all of its computer systems using U.S.-made parts.
Larry buys a sweater made in Guatemala.
Megan's father in Sweden orders a bottle of Vermont maple syrup from the producer's website.
O O

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