1.[Related to the Economics in Practice ] Which of the following transactions would not be counted in...

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1.[Related to the Economics in Practice ] Which of the following transactions would not be counted in GDP? Explain your answers.

a. You buy a new pair of Lucchese Cowboy boots at the Lucchese factory in El Paso, Texas.

b. You buy a vintage pair of Lucchese cowboy boots from a used clothing store in Jackson Hole, Wyoming.

c. You take a day of vacation to work in your yard.

d. A cat burglar sells $50,000 of stolen jewelry to an unscrupulous pawn shop.

e. Amazon.com, Inc. issues new shares of stock to finance a new distribution warehouse.

f. Amazon.com, Inc. builds a new distribution warehouse.

g. Oralia buys 200 ostrich feathers that she uses to embellish the custom hats that she makes and sells.

h. A private company builds a toll road to connect Nashville and Memphis.

i. The government pays out unemployment benefits. j. Walt Disney Co. purchases the entertainment assets of 21st Century Fox for $71 billion.

k. You win $100,000 playing a slot machine at a casino in Reno, Nevada.

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Related Book For  book-img-for-question

Principles Of Economics

ISBN: 9780135161104

13th Edition

Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster

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