True/False:Investment in new technology (e.g., software) is included today in GDP in “Gross Private Investment.” Government purchases of goods and services at all levels of government (federal, state, and local) are included in GDP. Construction and sales of new housing would be included in “Personal Consumption Expenditures” in the durables goods account.

1) True statement 2) True Statement 3) False statement

Answered: urables goods account.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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True/False:

Investment in new technology (e.g., software) is included today in GDP in “Gross Private Investment.”
Government purchases of goods and services at all levels of government (federal, state, and local) are included in GDP.
Construction and sales of new housing would be included in “Personal Consumption Expenditures” in the durables goods account.

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