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What components of GDP (if any) would each of the following transactions affect? Explain. a. Uncle Henry buys a new refrigerator from a domestic manufacturer. b. Aunt Jane buys a new house from a local builder. c. The Jackson family buys an old Victorian house from the Walker family. d. You pay a hairdresser for a haircut. e. Ford sells a Mustang from its inventory to the Martinez family. f. Ford manufactures a Focus and sells it to Avis, the car rental company. g. California hires workers to repave Highway 101. h. The federal government sends your grandmother a Social Security check. i. Your parents buy a bottle of French wine. j. Honda expands its factory in Ohio.

BuyFind

Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781337091985
BuyFind

Brief Principles of Macroeconomics...

8th Edition
N. Gregory Mankiw
Publisher: Cengage Learning
ISBN: 9781337091985

Solutions

Chapter
Section
Chapter 5, Problem 1PA
Textbook Problem

  1. What components of GDP (if any) would each of the following transactions affect? Explain.

a. Uncle Henry buys a new refrigerator from a domestic manufacturer.

b. Aunt Jane buys a new house from a local builder.

c. The Jackson family buys an old Victorian house from the Walker family.

d. You pay a hairdresser for a haircut.

e. Ford sells a Mustang from its inventory to the Martinez family.

f. Ford manufactures a Focus and sells it to Avis, the car rental company.

g. California hires workers to repave Highway 101.

h. The federal government sends your grandmother a Social Security check.

i. Your parents buy a bottle of French wine.

j. Honda expands its factory in Ohio.

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