1. Problems and Applications Q1Indicate what components of GDP (if any) each of the following transactions would affect. Check all that apply.TransactionYou buy a new Toshiba computer.Your parents buy a new house from a local builder.Dell sells a desktop computer from its inventory to the Johnsonfamily.Honda expands its factory in Ohio.You pay a hairdresser for a haircut.Uncle Henry buys a new refrigerator from a domestic manufacturer.California hires workers to repave Highway 101.The federal government sends your grandmother a Social Securitycheck.Consumption InvestmentDDDDOOLDOGovernmentPurchasesECOOCNetExportsODDODO O0

The GDP is comprised of four elements, which includes the personal consumption, business investment,…

Answered: Indicate what components of GDP (if…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Although GDP is a reasonably good measure of a nation's economic well-being, it does not necessarily include all factors that contribute to it. Which of the following factors are not accounted for in calculations of the GDP of Canada? Check all that apply. The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government The parts of a car manufactured in Canada that are produced in the United States The variety of goods available to consumers The loss of enjoyment people suffer when scenic land is converted to commercial use Federal government paycheques to soldiers
Which item would not be included in the GDP? You pay a $45 service fee to have your teeth cleaned It costs $4.99 per hour to process would pulp from trees grown in Canada by a paper factory in Maine A computer company in Kansas developed a new program this year and sells it to company in China for $25 per license Fresh corn, grown in lowa, is sold for $6 a dozen to shoppers in New York.
In 1999 in the economy of Microtania, Consumption was $7, Investment was $5, Government spending was $8, Exports were $1, and Imports were $4. What was Microtania’s GDP?
Which of the following transactions would NOT be counted in GDP? Select one: a. Nike builds a retail store. b. Your mother buys 100 shares of Nike stock. c. Your mother buys a pound of Washington-grown apples. d. The Indiana state government pays for repair of a damaged bridge over the Wabash River.
Which of the following are included in the year’s GDP? which are excluded? Explain your answers Coca-Cola builds a new bottling unit in the United states. Income of a tax accountant working for H&R block. The value of car batteries used in production of electric cars.
To all the experts who answer the questions, or to whoever that answers my questions. I just want to thank you all!
Which of the following is an example of investment, as a component of GDP? The purchase of bridges and dams by the government. The purchase of a truck by a delivery company. The purchase of Ford stock by an individual saving for retirement. The purchase of land by an individual.
Adam lives in California and, after graduating college, opened up an ice cream business on the Venice Beach boardwalk. Which items are not counted in GDP? Select all that apply and explain why each of the items you selected is not counted in GDP. a. Adam purchases a new sub-zero refrigerator for his ice cream shop. b. The neighborhood kids broke Adam's window at the ice cream shop during a baseball game. Adam replaces the window. c. After a successful summer, Adam travels to Egypt to visit the Red Sea. d. Adam sells his used accounting textbook to his best friend Billy. e. Adam spends a Saturday afternoon mowing his elderly neighbor's lawn. He earns $100 cash that day.
Which spending category of GDP does each of the following transactions count in? Please enter the letter C, I, G, NX, or N to represent consumption, investment, government spending, net exports, or none. The government paid a total of $30,000 in subsidies to people who had installed solar panels on their homes . Bill spent his $400 social security check on rent and food . Company X produces $5,000 of wine this year but they do not sell it . Your parents pay $8,000 for tuition to UCF . The government pays $1 million to people it hires to collect census data
Which of the following is a way to compute GDP?
Answer it correctly please. I ll rate accordingly with multiple votes. Typed answer and give explanation. My last attempt. Do it correctly.
What is GDP (Gross Domestic Product), and how is it calculated?

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