Indicate how each of the following activities will affect this years GDP: a. The sale of a
Question:
Indicate how each of the following activities will affect this year’s GDP:
a. The sale of a used economics textbook to the college bookstore
b. Smith’s $500 doctor bill for setting her son’s broken arm
c. Family lawn services provided by Smith’s 16-year-old child
d. Lawn services purchased by Smith from the neighbor’s 16-year-old child who has a lawn-mowing business
e. A $5,250 purchase of 100 shares of stock at $50 per share plus the sales commission of $250
f. A multibillion-dollar discovery of natural gas in Oklahoma
g. A hurricane that causes $10 billion of damage in Florida
h. $60,000 of income earned by an American college professor teaching in England.
Step by Step Answer:
Macroeconomics Private And Public Choice
ISBN: 9780357134009
17th Edition
Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson