Using the expenditure approach to the measurement of GDP. For each of the following situations, decide if that transaction will be included in a country’s 2021 GDP calculation (Hint: If it is to be included, state which expenditure category will it be included under; and if not to be included give a reason why not) Q.2.1.1 Household spends R2 500 on food supplies in 2019. Q.2.1.2 Household spends R5 700 on a brand new television set . Q.2.1.3 The country’s government pays out a disability grant (transfer) to an individual
Using the expenditure approach to the measurement of GDP. For each of the following situations, decide if that transaction will be included in a country’s 2021 GDP calculation (Hint: If it is to be included, state which expenditure category will it be included under; and if not to be included give a reason why not) Q.2.1.1 Household spends R2 500 on food supplies in 2019. Q.2.1.2 Household spends R5 700 on a brand new television set . Q.2.1.3 The country’s government pays out a disability grant (transfer) to an individual
Chapter5: Gross Domestic Product
Section: Chapter Questions
Problem 9SQ
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Question
Using the expenditure approach to the measurement of
(Hint: If it is to be included, state which expenditure category will it be included under;
and if not to be included give a reason why not)
Q.2.1.1 Household spends R2 500 on food supplies in 2019.
Q.2.1.2 Household spends R5 700 on a brand new television set .
Q.2.1.3 The country’s government pays out a disability grant (transfer) to
an individual
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