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For each of the following scenarios, classify the type of spending (C,I,G,Xn), describe its impact on gross domestic product (increase, decrease, not impacted), and explain.
For each of the following scenarios, classify the type of spending (C,I,G,Xn), describe its impact on gross domestic product (increase, decrease, not impacted), and explain.
- A new airplane purchased by United Parcel Service
- The tuition you pay during your first year of college
- The social security check your grandmother receives
- A new purchase of 50,000 shares of Time/Warner stock
- A new pair of tennis shoes made in China and purchased by an American shoe store
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