MindTap Economics, 1 term (6 months) Printed Access Card for Mankiw's Principles of Macroeconomics, 8th (MindTap Course List)
8th Edition
ISBN: 9781337096591
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Question
Chapter 10, Problem 1PA
Sub part (a):
To determine
Component of
Sub part (b):
To determine
Component of GDP affected by transaction.
Sub part (c):
To determine
Component of GDP affected by transaction.
Sub part (d):
To determine
Component of GDP affected by transaction.
Sub part (e):
To determine
Component of GDP affected by transaction.
Sub part (f):
To determine
Component of GDP affected by transaction.
Sub part (g):
To determine
Component of GDP affected by transaction.
Sub part (h):
To determine
Component of GDP affected by transaction.
Sub part (i):
To determine
Component of GDP affected by transaction.
Sub part (j):
To determine
Component of GDP affected by transaction.
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Students have asked these similar questions
What components of GDP (if any) would each of the following transactions affect? Explain.
Uncle Tom buys a new refrigerator from a domestic manufacturer.
Sidd buys a new house from a local builder.
The Aladin family buys an old Victorian house from the Disney family.
You pay a hairdresser for a haircut.
Ford sells a Mustang from its inventory to the Cernogratz family.
Ford manufactures a Focus and sells it to Avis, the car rental company.
California hires workers to repave Highway 101.
The federal government sends your grandfather a Social Security check.
Honda expands its factory in Larkana.
Which of the following transactions should or should not be counted in GDP?
Answer Yes or No and briefly explain your answer. Answers without explanation will not be considered
in grading, even if they are correct.
a. You buy a pair of new cowboy boots on a trip to Texas
b. You buy a pair of vintage cowboy boots from your cousin in El Paso
c. A cat burglar sells $10,000 of stolen jewelry to a fence
d. Amazon issues $1 billion worth of new shares
e. GM purchases $100 million worth of tires from Firestone
f. A private company builds a new road in Memphis Y
g. Stay-at-home parents provide an estimated $500 million of child care services
Which of the following would be captured and included in the calculation of GDP?
A) The cost of hospital stays.
The rise in life expectancy over time.
(C) Child care provided by a licensed day care center.
Child care provided by a grandmother at home.
A used car sale to the Brown family.
A new car sale to the Brown family.
(G) The greater variety of cheese available in supermarkets.
The iron that goes into the steel that goes into a refrigerator bought by the Brown family.
Chapter 10 Solutions
MindTap Economics, 1 term (6 months) Printed Access Card for Mankiw's Principles of Macroeconomics, 8th (MindTap Course List)
Ch. 10.1 - Prob. 1QQCh. 10.2 - Prob. 2QQCh. 10.3 - Prob. 3QQCh. 10.4 - Prob. 4QQCh. 10.5 - Prob. 5QQCh. 10 - Prob. 1CQQCh. 10 - Prob. 2CQQCh. 10 - Prob. 3CQQCh. 10 - Prob. 4CQQCh. 10 - Prob. 5CQQ
Ch. 10 - Prob. 6CQQCh. 10 - Prob. 1QRCh. 10 - Prob. 2QRCh. 10 - Prob. 3QRCh. 10 - Prob. 4QRCh. 10 - Prob. 5QRCh. 10 - Prob. 6QRCh. 10 - Prob. 7QRCh. 10 - Prob. 8QRCh. 10 - Prob. 1PACh. 10 - Prob. 2PACh. 10 - Prob. 3PACh. 10 - Prob. 4PACh. 10 - Prob. 5PACh. 10 - Prob. 6PACh. 10 - Prob. 7PACh. 10 - Prob. 9PACh. 10 - Prob. 10PACh. 10 - Prob. 11PACh. 10 - Prob. 12PA
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- Indicate what components of GDP (if any) each of the following transactions would affect. Check all that apply. Transaction Honda expands its factory in Ohio. You purchase a box of Belgian chocolate. You pay a hairdresser for a haircut. Uncle John receives a check from the federal government for unemployment insurance benefits. Your parents buy a new house from a local builder. Ford sells a Mustang from its inventory to the Martinez family. Uncle Henry buys a new refrigerator from a domestic manufacturer. New York hires workers to plow snow after a snowstorm. Consumption Investment D 0 0 D D 00 0 O 0 0 m O 0 e Government Purchases O W O 0000 Net Exports DOO 0 00000arrow_forward1) How do the following events influence Turkish GDP? Mothers living in Turkey take care of their pre-school child in their own home. You buy a new car from a dealer for 80,000 TL. You sell your father’s used car to a dealer for 70,000 TL. You sell your old car to a dealer for 60,000 TL. The dealer repaints it and sells it to a customer for 80,000 TL A Japanese company builds a factory in Düzce. (If this affects GDP, is it the Japanese or the Turkish GDP?) A German company buys stock in a Turkish company. An earthquake destroys many structures in Gebze industrial zone. The structures are not rebuilt this year. An earthquake destroys much of Gölcük and within a short time the town is rebuilt as it was before.arrow_forwardExplain the initial effect of each of the following events on Canada’s GDP. a) Toby sells his used car to Maria. b) The value of your Home Depot stock holdings decrease. c) You use $100,000 to buy a piece of land with the intention of building a new house on it. d) Sharon buys a new pair of jeans at a department store in another town in her province. e) An Irish tourist drinks an American beer in a Canadian restaurant. f) Your local car dealership reduces its inventory by offering price reductions. g) You sell all the shares in your Canadian National Railway Company holdings. h) Jermaine travels with Air Canada to Grenada and buys rum and spices. i) Bickram gets a haircut and beard trimmed at his local barbershop. j) Katherine, a retired worker, gets an increase in her Canada Pension Plan benefits.arrow_forward
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