Transaction Time frame Cost Parts sold to washing machine producer Fall 2018 $500 in parts Factor labor
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Question:
Transaction
Time frame
Cost
Parts sold to washing machine producer
Fall 2018
$500 in parts
Factor labor leads to washing machine
Winter 2018
$425 in labor
Home Depot buys washing machine
Spring 2019
$1,000 for the car
Home Depot sells washing machine to customer
Summer 2019
$1,250 for the car
- Using the information in the table above, describe two different ways the transactions could contribute to GDP for both years. Which way is used in practice? Be sure to provide a thorough explanation, including all calculations and define any words used in the explanation.
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