Discuss and explain the impact of each transaction below on the calculation of the gross domestic product in the current year in no more than three sentences. An Asian household receives US dollar remittance from a worker abroad in the current year.The Asian household buys new home appliance from a local supplier in the current year.The Asian household buys a newly constructed condominium unit on credit in the current year.A household member buys license for Office 365 software from Microsoft in the US through the internet using a credit card in the current year.A household receives cash through the Welfare program of the government in the current year.
Discuss and explain the impact of each transaction below on the calculation of the gross domestic product in the current year in no more than three sentences. An Asian household receives US dollar remittance from a worker abroad in the current year.The Asian household buys new home appliance from a local supplier in the current year.The Asian household buys a newly constructed condominium unit on credit in the current year.A household member buys license for Office 365 software from Microsoft in the US through the internet using a credit card in the current year.A household receives cash through the Welfare program of the government in the current year.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Discuss and explain the impact of each transaction below on the calculation of the gross domestic product in the current year in no more than three sentences.
An Asian household receives US dollar remittance from a worker abroad in the current year.The Asian household buys new home appliance from a local supplier in the current year.The Asian household buys a newly constructed condominium unit on credit in the current year.A household member buys license for Office 365 software from Microsoft in the US through the internet using a credit card in the current year.A household receives cash through the Welfare program of the government in the current year.
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