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Identify whether or not each of the following transactions are included in GDP (Yes or No), and, if so, which expenditure or income component of
Identify whether or not each of the following transactions are included in GDP (Yes or No), and, if so, which expenditure or income component of GDP it is part of ):
- A consumer buys a used car
- A provincial government repaves a highway
- A business purchases a new piece of production equipment
- An unemployed plumber receives an employment insurance payment
- A Canadian business sells medical equipment to a hospital in Switzerland
- A homeowner repairs his/her own leaking kitchen pipes
- A toy collector sells a used toy to a friend
- Calculate per capita GDP for Country Ecoville given GDP of $1,650,000 million and population of 31,000,000 in 2012.
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