Manuel and Poornima White live in Swarthmore, PA. Their son, Shen, 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. Transaction G M Shen buys a new set of tools to use in his plumbing business. Poornima buys a new BMW, which was assembled in Germany. Manuel's employer assigns him to provide consulting services to an Australian firm that's opening a manufacturing facility in China. The Federal Aviation Administration expands the runways at Philadelphia International Airport, which is just a few miles from Manuel and Poornima's house. Poornima gets a haircut. [0

Manuel and Poornima White live in Swarthmore, PA. Their son, Shen, 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. Transaction G M Shen buys a new set of tools to use in his plumbing business. Poornima buys a new BMW, which was assembled in Germany. Manuel's employer assigns him to provide consulting services to an Australian firm that's opening a manufacturing facility in China. The Federal Aviation Administration expands the runways at Philadelphia International Airport, which is just a few miles from Manuel and Poornima's house. Poornima gets a haircut. [0

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter13: Measuring The Economy's Performance

Section: Chapter Questions

Problem 10AA

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