Question 14 pts

Tamika buys a new shirt that was produced in Los Angeles this year for $120. The contribution to US GDP this year is $ [ Select ] ["0", "120"] . That contribution is attributed to [ Select ] ["consumption", "investment", "government consumption", "imports", "exports", "none"] .

: Question 2

Christiano lives in Colombia and buys a Steampunk typewriter that was made this year in Boulder, CO, for $1,200. It is shipped this year. The contribution to US GDP is $ [ Select ] ["0", "1,200"] and the component that it affects is [ Select ] ["consumption", "investment", "government consumption", "imports", "exports", "none"] . The contribution to Colombian GDP, measured in dollars, is $ [ Select ] ["0", "1,200"] .

: Question 3

Frances buys a lithograph for her home office, from which she runs a consulting business. She spends $120,000. It was previously hanging in the home of Bill Gates, who bought it from a Baltimore-based artist in 1996 for $70,000. The contribution to US GDP this year is $ [ Select ] ["0", "50,000", "70,000", "120,000"] . The contribution is attributed to [ Select ] ["consumption", "investment", "government consumption", "imports", "exports", "none"] . The contribution to US GDP in 1996 was [ Select ] ["0", "50,000", "70,000", "120,000"] . That contribution was attributed to [ Select ] ["consumption", "investment", "government consumption", "imports", "exports", "none"] .

: Question 4

Cranes and More, a Denver-based manufacturer, bought component parts for its cranes earlier this year from an Indonesian manufacturer for $10,000,000. It produced cranes with these parts which it then sold to US construction firms for $20,000,000 and to Canadian construction firms for $5,000,000. Match each component of GDP to the contribution from that component to overall US GDP. Also match the effect of these transactions on overall GDP.

Group of answer choices

Consumption

[ Choose ] 5,000,000 -5,000,000 -10,000,000 15,000,000 0 20,000,000 25,000,000

Investment

[ Choose ] 5,000,000 -5,000,000 -10,000,000 15,000,000 0 20,000,000 25,000,000

Government consumption

[ Choose ] 5,000,000 -5,000,000 -10,000,000 15,000,000 0 20,000,000 25,000,000

Imports

[ Choose ] 5,000,000 -5,000,000 -10,000,000 15,000,000 0 20,000,000 25,000,000

Exports

[ Choose ] 5,000,000 -5,000,000 -10,000,000 15,000,000 0 20,000,000 25,000,000

Overall impact on GDP

[ Choose ] 5,000,000 -5,000,000 -10,000,000 15,000,000 0 20,000,000 25,000,000

Question 5

The government of Denver contracts with a firm to build a new light rail line for $100,000,000. Work will be done over the next five years, starting next year, with equal installments paid over that timeframe. The effect on GDP this year is [ Select ] ["0", "20,000,000", "100,000,000"] . The effect next year, if all goes as planned, is [ Select ] ["0", "20,000,000", "100,000,000"] . The component of GDP that is affected is [ Select ] ["Consumption", "Investment", "Government consumption", "imports", "exports", "none"] .