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What is included in GDP? What is not? C+I+G+(X-M) $10.00 for movie tickets $5M Increase in defense expenditures $45 for used economics textbook Ford makes
What is included in GDP? What is not? C+I+G+(X-M)
- $10.00 for movie tickets
- $5M Increase in defense expenditures
- $45 for used economics textbook
- Ford makes new $2M factory
- $20K Toyota made in Mexico
- $10K Profit from selling stocks
- $15K car made in U.S. sold in Canada
- $10K Tuition to attend college
- $120 Social Security payment to Bob
- Farmer purchases new $100K tractor
Calculate Nominal GDP from the situation above.
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