0호<2/2 -Part BGDP: Where and what is counted?For each of the following items, write one of the following in the space provided.C if the item is counted as consumption spendingI if the item is counted as investment spendingGif the item is counted as government spendingX if the item is counted as exportsM if the item is counted as importsNC if the item is not counted in the calculation of the GDP11. You spend $7.00 to see the latest Justin Bieber movie.12. A family pays a contractor $100,000 for a house he built for them this year.13. A family pays $75,000 for a house built three years ago.14. An accountant from Ernst & Young purchases a new Italian suit.15. The government increases defense expenditures by $1,000,000,00016. A homemaker works hard caring for her spouse and two children.17. Ford Motor Company buys new auto-making robots.18. Apple Computer builds a new factory in the United States.19. You buy a new Toyota Tacoma that was made in Japan.20. A Japanese airline purchases two new Boeing 747s ("these are made in WA)

GDP refers to the production of goods and services during an accounting year. The production in past…

Part B GDP: Where and what is counted? For each of the following items, write one of the following in the space provided. C if the item is counted as consumption spending I if the item is counted as investment spending 6:5

Part B GDP: Where and what is counted? For each of the following items, write one of the following in the space provided. C if the item is counted as consumption spending I if the item is counted as investment spending 6:5

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

0
호
<
2/2 -
Part B
GDP: Where and what is counted?
For each of the following items, write one of the following in the space provided.
C if the item is counted as consumption spending
I if the item is counted as investment spending
Gif the item is counted as government spending
X if the item is counted as exports
M if the item is counted as imports
NC if the item is not counted in the calculation of the GDP
11. You spend $7.00 to see the latest Justin Bieber movie.
12. A family pays a contractor $100,000 for a house he built for them this year.
13. A family pays $75,000 for a house built three years ago.
14. An accountant from Ernst & Young purchases a new Italian suit.
15. The government increases defense expenditures by $1,000,000,000
16. A homemaker works hard caring for her spouse and two children.
17. Ford Motor Company buys new auto-making robots.
18. Apple Computer builds a new factory in the United States.
19. You buy a new Toyota Tacoma that was made in Japan.
20. A Japanese airline purchases two new Boeing 747s ("these are made in WA)

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