What components of GDP (if any) would each of thefollowing transactions affect? Explain.a. Uncle Henry buys a new refrigerator from adomestic manufacturer.b. Aunt Jane buys a new house from a local builder.c. The Jackson family buys an old Victorian housefrom the Walker family.d. You pay a hairdresser for a haircut.e. Ford sells a Mustang from its inventory to theMartinez family.f. Ford manufactures a Focus and sells it to Avis, thecar rental company.g. California hires workers to repave Highway 101.h. The federal government sends your grandmothera Social Security check.i. Your parents buy a bottle of French wine.j. Honda expands its factory in Ohio.
What components of GDP (if any) would each of thefollowing transactions affect? Explain.a. Uncle Henry buys a new refrigerator from adomestic manufacturer.b. Aunt Jane buys a new house from a local builder.c. The Jackson family buys an old Victorian housefrom the Walker family.d. You pay a hairdresser for a haircut.e. Ford sells a Mustang from its inventory to theMartinez family.f. Ford manufactures a Focus and sells it to Avis, thecar rental company.g. California hires workers to repave Highway 101.h. The federal government sends your grandmothera Social Security check.i. Your parents buy a bottle of French wine.j. Honda expands its factory in Ohio.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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What components of following transactions affect? Explain. a. Uncle Henry buys a new refrigerator from a domestic manufacturer. b. Aunt Jane buys a new house from a local builder. c. The Jackson family buys an old Victorian house from the Walker family. d. You pay a hairdresser for a haircut. e. Ford sells a Mustang from its inventory to the Martinez family. f. Ford manufactures a Focus and sells it to Avis, the car rental company. g. California hires workers to repave Highway 101. h. The federal government sends your grandmother a Social Security check. i. Your parents buy a bottle of French wine. j. Honda expands its factory in Ohio. |
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