Government Purchases Net Transaction Consumption Investment Exports Ford manufactures a Focus and sells it to Avis, the car rental сompany. Ford sells a Mustang from its inventory to the Martinez family. California hires workers to repave Highway 101. Your parents pay an accountant to file their tax returns. The Jackson family buys an old Victorian house from the Walker family. You purchase a box of Belgian chocolate. Aunt Jane buys a new house from a local builder. O oo

Government Purchases Net Transaction Consumption Investment Exports Ford manufactures a Focus and sells it to Avis, the car rental сompany. Ford sells a Mustang from its inventory to the Martinez family. California hires workers to repave Highway 101. Your parents pay an accountant to file their tax returns. The Jackson family buys an old Victorian house from the Walker family. You purchase a box of Belgian chocolate. Aunt Jane buys a new house from a local builder. O oo

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter19: Measuring Economic Performance

Section: Chapter Questions

Problem 3P

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Similar questions

Which of the following are included in GDP, and which are not? The cost of hospital stays The rise in life expectancy over time Child care provided by a licensed day care center Child care provided by a grandmother A used car sale A new car sale The greater variety of cheese available in supermarkets The iron that goes into the steel that goes into a refrigerator bought by a consumer.
What are the main components of measuring GDP with what is produced?
Last year, a small nation with abundant forests cut down 200 worth of trees. It then turned 100 worth of trees into 150 worth of lumber. It used 100 worth of that lumber to produce $250 worth of bookshelves. Assuming the country produces no other outputs, and there are no other inputs used in producing trees, lumber, and bookshelves, what is this nations GDP? In other words, what is the value of the final goods the nation produced including trees, lumber and bookshelves?
What are the two main difficulties that arise in comparing different comparing GDP?