Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2) Determine whether each of the following counts as consumption, investment, government purchases, net exports, or not included in GDP, under the expenditure approach to

2) Determine whether each of the following counts as consumption, investment, government purchases, net exports, or not included in GDP, under the expenditure approach to calculating GDP.

  • Consumption (C),
  • Investment (I),
  • Government purchases (G),
  • Net exports (NX),
  • Not included in GDP.

1)The Department of Motor Vehicles (DMV) which is operated by government buys a new machine for printing drivers' licenses.

2)A student pays rent on her apartment.

3)Someone buys a used Toyota car.

4)A student buying a new textbook.

5)Someone buys a new General Motors car produced in the United States.

6)The U.S. Army pays its soldiers.

7)Buying a new digital camera

8) Julie purchased 1,000 shares of Google stock.

9)Monthly Social Security payments received by retirees.

10) Lawn-mowing services performed by a neighborhood child.

11) Air pollution that diminishes the quality of air you breath.

12) Hewlett-Packard (HP) Company produces new computers.

13) Ford Company exports 1000 cars to Europe.

14) Drugs sold illegally on a local street corner.

15) Babysitting for your neighbor.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials Of Economics

Authors: N. Gregory Mankiw

5th Edition

0324590024, 9780324590029

More Books

Students also viewed these Economics questions

Question

Pay him, do not wait until I sign

Answered: 1 week ago

Question

Speak clearly and distinctly with moderate energy

Answered: 1 week ago