3. Categories of expendituresDarnell and Eleanor Cole live in Conshohocken, PA. Their son, Jacques, owns his own plumbing business.For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C),investment (I), government purchases (G), exports (X), or imports (M). Check all that apply.TransactionThe Federal Aviation Administration expands the runways at Philadelphia International Airport,which is just a few miles from Darnell and Eleanor's house.Eleanor buys a new BMW, which was assembled in Germany.Darnell's employer assigns him to provide consulting services to an Australian firm that's openinga manufacturing facility in China.Eleanor gets a haircut.Jacques buys a new set of tools to use in his plumbing business.сOIOGXMOO

Gross domestic product (GDP) measures the market value of final goods and services produced within…

Darnell and Eleanor Cole live in Conshohocken, PA. Their son, Jacques, owns his own plumbing business. For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply.