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Calculate how much GDP would change as a result of each of the following transactions: (a) The government purchases an airplane for $6 million. (b)
Calculate how much GDP would change as a result of each of the following transactions:
(a) The government purchases an airplane for $6 million.
(b) A citizen sells a used car for $6,000.
(c) A citizen sells a used car to a dealer for $6,000, who resells it to a consumer for $7,500.
(d) A citizen sells a bond for $1,000 that they bought last year for $600.
(e) The government issues a welfare cheque for $1,250 (ignore the administrative costs of issuing the check).
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