1.[Related to the Economics in Practice ] Which of the following transactions would not be counted in...
Question:
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.
Step by Step Answer:
Principles Of Economics
ISBN: 9780135161104
13th Edition
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster