3. Categories of expenditures Jake and Latasha Lane live in Swarthmore, PA. Latasha's father, Nick, 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 (EX), or imports (IM). (Hint: Check all that apply.) Transaction Latasha gets a new refrigerator made in the United States. Jake buys a bottle of Italian wine. Jake's employer upgrades all of its computer systems using U.S.-made parts. Nick in Sweden orders a bottle of Vermont maple syrup from the producer's website. The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore. I G EX IM
3. Categories of expenditures Jake and Latasha Lane live in Swarthmore, PA. Latasha's father, Nick, 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 (EX), or imports (IM). (Hint: Check all that apply.) Transaction Latasha gets a new refrigerator made in the United States. Jake buys a bottle of Italian wine. Jake's employer upgrades all of its computer systems using U.S.-made parts. Nick in Sweden orders a bottle of Vermont maple syrup from the producer's website. The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore. I G EX IM
Chapter11: Gross Domestic Product
Section: Chapter Questions
Problem 7SQP
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Transcribed Image Text:3. Categories of expenditures
Jake and Latasha Lane live in Swarthmore, PA. Latasha's father, Nick, 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 (EX), or imports (IM). (Hint: Check all that apply.)
Transaction
Latasha gets a new refrigerator made in the United States.
Jake buys a bottle of Italian wine.
Jake's employer upgrades all of its computer systems using U.S.-made parts.
Nick in Sweden orders a bottle of Vermont maple syrup from the producer's website.
The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore.
I
G
EX
IM
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