Determine if each transaction is included in the Gross Domestic Product (GDP) and mark each item as one of the categories below. Consumer Spending Non-Market Activity Government Spending Transfer Payments Investment Securities/Financial PaymentsNet Exports Black Market Secondhand Sales A monthly check received by an economics student who has been granted a government scholarship a. Investment b. Transfer Payments v A farmer's purchase of a new tractor c. Government Spending A plumber's purchase of a two-year-old used truck d. Net Exports -v Cashing a U.S. government bond e Securities/Financial Payr vA Social Security check from the government to a retired store clerk f Secondhand Sales v Sale of $1 000 worth of crack cocaine g Black Market v The government's purchase of a new submarine for the Navy h. Nonmarket Activity

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter15: Measuring A Nation's Income
Section: Chapter Questions
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Determine if each transaction is included in the Gross Domestic Product (GDP) and mark each item as one of the categories below.
Consumer Spending Non-Market Activity
Government Spending Transfer Payments
Investment Securities/Financial PaymentsNet Exports Black Market Secondhand Sales
A monthly check received by an economics student who has been granted a government
scholarship
a. Investment
b. Transfer Payments
|vA farmer's purchase of a new tractor
c. Government Spending
A plumber's purchase of a two-year-old used truck
d. Net Exports
vCashing a U.S. government bond
e Securities/Financial Payments
A Social Security check from the government to a retired store clerk
f Secondhand Sales
v Sale of $1,000 worth of crack cocaine
g Black Market
v The government's purchase of a new submarine for the Navy
h. Nonmarket Activity
vA barber's income from cutting hair
1 Consumer Spending
v Income received from the sale of Nike stock
v A family pays $75,000 for a house built three years ago
v The government increases its defense expenditures by $1.000 000 000
v You buy General Motors Corp stock for $1.000 in the stock market
v Ahomemaker works hard caring for her spouse and tWo children
v Ford Motor Co buys new auto-making robots.
v Apple Computer Co builds a new factory in the United States.
Type here to search
立
Transcribed Image Text:Determine if each transaction is included in the Gross Domestic Product (GDP) and mark each item as one of the categories below. Consumer Spending Non-Market Activity Government Spending Transfer Payments Investment Securities/Financial PaymentsNet Exports Black Market Secondhand Sales A monthly check received by an economics student who has been granted a government scholarship a. Investment b. Transfer Payments |vA farmer's purchase of a new tractor c. Government Spending A plumber's purchase of a two-year-old used truck d. Net Exports vCashing a U.S. government bond e Securities/Financial Payments A Social Security check from the government to a retired store clerk f Secondhand Sales v Sale of $1,000 worth of crack cocaine g Black Market v The government's purchase of a new submarine for the Navy h. Nonmarket Activity vA barber's income from cutting hair 1 Consumer Spending v Income received from the sale of Nike stock v A family pays $75,000 for a house built three years ago v The government increases its defense expenditures by $1.000 000 000 v You buy General Motors Corp stock for $1.000 in the stock market v Ahomemaker works hard caring for her spouse and tWo children v Ford Motor Co buys new auto-making robots. v Apple Computer Co builds a new factory in the United States. Type here to search 立
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