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Suppose you are measuring annual U.S. GDP by adding up the final value of all goods and services produced in the economy. Determine the effect
Suppose you are measuring annual U.S. GDP by adding up the final value of all goods and services produced in the economy. Determine the effect on GDP of each of the following transactions.
a. A seafood restaurant buys $2000 worth of fish from a fisherman. b. A family spends $300 on a fish dinner at a seafood restaurant. c. Delta Air Lines buys a new jet from Boeing for $400 million. d. The Greek national airline buys a new jet from Boeing for $400 million. e. Delta Air Lines sells one of its jets to Jennifer Lawrence for $200 million.
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