Determine if each transaction is included in the Gross Domestic Product (GDP) and mark each item as one of the categories below. Consumer Spending Non-Market Activity Government Spending Transfer Payments Investment Securities/Financial PaymentsNet Exports Black Market Secondhand Sales A monthly check received by an economics student who has been granted a government scholarship a. Investment b. Transfer Payments v A farmer's purchase of a new tractor c. Government Spending A plumber's purchase of a two-year-old used truck d. Net Exports

MACROECONOMICS
14th Edition
ISBN:9781337794985
Author:Baumol
Publisher:Baumol
Chapter5: An Introduction To Macroeconomics
Section: Chapter Questions
Problem 3TY
icon
Related questions
Question
Just do as many as you able to do.
Determine if each transaction is included in the Gross Domestic Product (GDP) and mark each item as one of the categories below.
Consumer Spending Non-Market Activity
Government Spending Transfer Payments
Investment Securities/Financial PaymentsNet Exports Black Market Secondhand Sales
A monthly check received by an economics student who has been granted a government
scholarship
a. Investment
b. Transfer Payments
EvA farmer's purchase of a new tractor
c. Government Spending
A plumber's purchase of a two-year-old used truck
d. Net Exports
v Cashing a U.S. government bond
e Securities/Financial Payments
A Social Security check from the government to a retired store clerk
f Secondhand Sales
v Sale of $1,000 worth of crack cocaine
g Black Market
v The government's purchase of a new submarine for the Navy
h. Nonmarket Activity
vA barber's income from cutting hair
1 Consumer Spending
v Income received from the sale of Nike stock
v A family pays $75,000 for a house built three years ago
The government increases its defense expenditures by $1.000 000 000
v You buy General Motors Corp stock for $1.000 in the stock market
v A homemaker works hard caring for her spouse and tvWo children
v Ford Motor Co buys new auto-making robots.
- v Apple Computer Co builds a new factory in the United States.
P Type here to search
立
Transcribed Image Text:Determine if each transaction is included in the Gross Domestic Product (GDP) and mark each item as one of the categories below. Consumer Spending Non-Market Activity Government Spending Transfer Payments Investment Securities/Financial PaymentsNet Exports Black Market Secondhand Sales A monthly check received by an economics student who has been granted a government scholarship a. Investment b. Transfer Payments EvA farmer's purchase of a new tractor c. Government Spending A plumber's purchase of a two-year-old used truck d. Net Exports v Cashing a U.S. government bond e Securities/Financial Payments A Social Security check from the government to a retired store clerk f Secondhand Sales v Sale of $1,000 worth of crack cocaine g Black Market v The government's purchase of a new submarine for the Navy h. Nonmarket Activity vA barber's income from cutting hair 1 Consumer Spending v Income received from the sale of Nike stock v A family pays $75,000 for a house built three years ago The government increases its defense expenditures by $1.000 000 000 v You buy General Motors Corp stock for $1.000 in the stock market v A homemaker works hard caring for her spouse and tvWo children v Ford Motor Co buys new auto-making robots. - v Apple Computer Co builds a new factory in the United States. P Type here to search 立
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Cash Flow
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
MACROECONOMICS
MACROECONOMICS
Economics
ISBN:
9781337794985
Author:
Baumol
Publisher:
CENGAGE L
Macroeconomics: Principles and Policy (MindTap Co…
Macroeconomics: Principles and Policy (MindTap Co…
Economics
ISBN:
9781305280601
Author:
William J. Baumol, Alan S. Blinder
Publisher:
Cengage Learning
Brief Principles of Macroeconomics (MindTap Cours…
Brief Principles of Macroeconomics (MindTap Cours…
Economics
ISBN:
9781337091985
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Exploring Economics
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
Economics:
Economics:
Economics
ISBN:
9781285859460
Author:
BOYES, William
Publisher:
Cengage Learning