(National Income Accounting) Identify the component of aggregate expenditure to which each of the following belongs: a. A U.S. resident’s purchase of a new automobile manufactured in Japan b. A household’s purchase of one hour of legal advice c. Construction of a new house d. An increase in semiconductor inventories over last year’s level e. A city government’s acquisition of 10 new police cars
(National Income Accounting) Identify the component of aggregate expenditure to which each of the following belongs: a. A U.S. resident’s purchase of a new automobile manufactured in Japan b. A household’s purchase of one hour of legal advice c. Construction of a new house d. An increase in semiconductor inventories over last year’s level e. A city government’s acquisition of 10 new police cars
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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(National Income Accounting) Identify the component of aggregate expenditure to which each of the following belongs:
a. A U.S. resident’s purchase of a new automobile manufactured in Japan
b. A household’s purchase of one hour of legal advice
c. Construction of a new house
d. An increase in semiconductor inventories over last year’s level e. A city government’s acquisition of 10 new police cars
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