Which of the following should be included in the U.S. GDP for 2022? Explain how they will be handled when computing GDP using the expenditure approach. Explain why they should or should not be included. 1. 2. 3. 4. 5. 6. 7. Property taxes paid in 2022 to the city of Anchorage, Alaska. A public elementary school built in Colorado in 2022. Seven hours of babysitting produced by a fourteen year old in Virginia in 2022. Five hundred hours of babysitting by a Jamaican nanny for a family living in New York in 2022 (filed on a W-2 form). Sixteen ecstasy tablets produced and sold in New Mexico in 2022. A bottle of wine produced in California in 2022 and sold to someone in France in 2022. A share of Disney stock sold in 2022 by a person living in Florida to a person living in Georgia. EXCLUEDED FINACIAL TRANSACTION ARE NOT INCLUDED IN GDP

Which of the following should be included in the U.S. GDP for 2022? Explain how they will be handled when computing GDP using the expenditure approach. Explain why they should or should not be included. 1. 2. 3. 4. 5. 6. 7. Property taxes paid in 2022 to the city of Anchorage, Alaska. A public elementary school built in Colorado in 2022. Seven hours of babysitting produced by a fourteen year old in Virginia in 2022. Five hundred hours of babysitting by a Jamaican nanny for a family living in New York in 2022 (filed on a W-2 form). Sixteen ecstasy tablets produced and sold in New Mexico in 2022. A bottle of wine produced in California in 2022 and sold to someone in France in 2022. A share of Disney stock sold in 2022 by a person living in Florida to a person living in Georgia. EXCLUEDED FINACIAL TRANSACTION ARE NOT INCLUDED IN GDP

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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