Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Match the scenarios given to the government expenditure. Then state the government program, whether or not the expenditure is included in GDP and how it
Match the scenarios given to the government expenditure. Then state the government program, whether or not the expenditure is included in GDP and how it affects GDP.
Scenario | Government Program | Counted in GDP (Yes or No) | Effect on GDP (Increase, Decrease or No Change) |
Metro Council approves a new police contract, which includes a 2% raise for police officers. | |||
Due to the COVID-19 pandemic the government closes down National Parks for two months. | |||
A woman with three children is out of work and her children need vaccinations. | |||
Both adults in a family of four lost their jobs and file for aid. | |||
The local government installs a new splash park outside the local recreation center. | |||
A man cashes his retirement check. | |||
State tax revenue is down due to the current economic recession. The state has to reduce subsidies to local school districts. | |||
Due to widespread unemployment, the federal government provides additional funding for unemployment checks. |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started