For each of the following transactions, determine if it takes place in the market for outputs or

Question:

For each of the following transactions, determine if it takes place in the market for outputs or the market for inputs.

Then, determine the direction of the flow of goods and services and the flow of money between households and businesses. Finally, determine how GDP as measured by the market value of output, spending on output, income received, or wages and profits changes.

a. Labanya purchases a robotic vacuum cleaner on Amazon for $500.

b. Matt gets paid $4,000 to teach a creative writing class at his local community college.

c. Dollarama hires 10 new workers at the minimum wage to staff a new store.

d. Eight million people purchased a monthly Spotify premium subscription for $10 last month.

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