Which of the following transactions or activities would be counted in your country’s GDP? Explain your answers. A transportation company acquires a fleet of second-hand vehicles.The same transportation company acquires 1.000 gallons of gas from a foreign company deducted from the net export component of GDP.You buy 10 short-term government bonds.A mining company acquires new government licenses to drill in land the company already owns.You pay for a new haircut at your local hairdresser.Foreign residents buy a bundle of your country’s food specialties on an online retail site.Your parents spend a whole day cooking meals to be handed out to their poorer neighbors.The local government acquires furniture for newly built schools.Two telecommunications companies merge.A non-profit organization buys an apartment to lodge their headquarters.

Gross domestic product (GDP) refers to the all final value of goods and service that produce in a…

Answered: Which of the following transactions or…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Which of the following transactions or activities would be counted in your country’s GDP? Explain your answers.

A transportation company acquires a fleet of second-hand vehicles.
The same transportation company acquires 1.000 gallons of gas from a foreign company deducted from the net export component of GDP.
You buy 10 short-term government bonds.
A mining company acquires new government licenses to drill in land the company already owns.
You pay for a new haircut at your local hairdresser.
Foreign residents buy a bundle of your country’s food specialties on an online retail site.
Your parents spend a whole day cooking meals to be handed out to their poorer neighbors.
The local government acquires furniture for newly built schools.
Two telecommunications companies merge.
A non-profit organization buys an apartment to lodge their headquarters.

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