For each of the following transactions, indicate whether U.S. GDP rises, falls, or remains constant. In...
For each of the following transactions, indicate whether U.S. GDP rises, falls, or remains constant. In addition, indicate which, if any, of the four components of U.S. GDP are affected and the direction in which they change.
a. John buys a painting by Renoir, a 19th century artist.
b. Lisa buys a new BMW, made in Germany.
Homework Answers
GDP is the market value of final goods and services produced within a country's borders.
a) Not included as the painting by Renoir is a resale. Only final goods are included.
b) Since the BMW is produced outside the U.S. it is not included in the U.S. GDP.
Add Answer to:
For each of the following transactions, indicate whether U.S. GDP rises, falls, or remains constant. In...
For each of the following transactions, state the effect both on U.S. GDP and on the...
For each of the following transactions, state the effect both on U.S. GDP and on the four components of aggregate expenditure. a. Your mother-in-law buys a new car from a U.S. producer. U.S. GDP (Click to select) Of the four components of aggregate expenditure: consumption rises and net exports fall. investment rises and net exports fall. investment rises and net exports do not change. O consumption rises and net exports do not change. b. Your mother-in-law buys a new car...
For each of the following transactions, state the effect both on U.S. GDP and on the...
For each of the following transactions, state the effect both on U.S. GDP and on the four components of aggregate expenditure a. Your mother buys a new car from a U.S. producer. us, GDP (Click to select) Of the four components of aggregate expenditure: net exports do not change and government purchases rise. investment rises and net exports do not change. investment rises and net exports fall. consumption rises and net exports do not change. consumption rises and net exports...
For each of the following transactions, indicate whether it represents an increase in the U.S. gross...
For each of the following transactions, indicate whether it represents an increase in the U.S. gross domestic product (GDP), and, if so, state whether it represents U.S. consumption, investment, government purchases of goods or services, or net exports.If the transaction does not change U.S. GDP explain why not.(a) A wheat farmer sells wheat flour to a bakery to be used to produce bread.(b) You buy a new ToyotaCorolla (Toyota isa Japanese firm). The Corolla was built in a car factory...
Determine whether each of the following items is included in this year’s U.S. GDP. If so,...
Determine whether each of the following items is included in this year’s U.S. GDP. If so, identify the component of GDP in which it belongs: C, I, G, or NX. Check one box in each row. a. A Wisconsin business builds a new office building this year. Included in GDP: ⧠ C ⧠ I ⧠ G ⧠ NX Not in GDP: ⧠ b. The state of Minnesota builds a new highway this year. Included in GDP: ⧠ C ⧠ I...
Indicate what components of GDP (if any) each of the following transactions would affect. Check all...
Indicate what components of GDP (if any) each of the following transactions would affect. Check all that apply. Government Purchases Net Exports Consumption Investment Transaction Uncle Henry buys a new refrigerator from a domestic manufacturer. Aunt Jane buys a new house from a local builder. The Jackson family buys an old Victorian house from the Walker family. You pay a hairdresser for a haircut. Ford sells a Mustang from its inventory to the Martinez family. Ford manufactures a Focus and...
What components of gross domestic product (GDP), if any, would each of the following transactions affect?...
What components of gross domestic product (GDP), if any, would each of the following transactions affect? Explain. Jane buys an imported DVD player. (4 marks) A local computer firm sells 500 notebook computers from its inventory. (4 marks) (iii) John buys a new house. (3 marks) The Comprehensive Social Security Assistance (CSSA) in Hong Kong is adjusted each year according to the CPI. Most economists believe that CPI always overstates the actual inflation. Given the economists' view is valid, discuss...
Based on this definition, indicate which of the transactions in the following table will be included...
Based on this definition, indicate which of the transactions in the following table will be included in that is, directly increase) the GDP of the United States in 2021. 2021 GDP Included Excluded Transaction You chop down a cherry tree on your property in California and make a dining room table in 2021. This table does not pass through an organized market, but a similar table sells for $800 in a local furniture store. Athleticus, a U.S. shoe company, produces...
Motif Furniture designs and sells modern furniture. For each of the following first-quarter transactions, indicate whether...
Motif Furniture designs and sells modern furniture. For each of the following first-quarter transactions, indicate whether operating (O), investing (), or financing activities (F) are affected and whether the effect is a cash inflow (+) or outflow (-). Activity Cash Flow 1. Bought used equipment for cash 2 Paid cash to purchase new equipment 3. Declared and paid cash dividends to shareholders 4. Collected payments on account from customers 5. Recorded an adjusting entry to record accrued salaries expense Recorded...
For each of the following transactions or adjustments indicate the effect of the transaction or adjustment...
For each of the following transactions or adjustments indicate the effect of the transaction or adjustment on assets, beties, and net income by entering for each account affected the account name and amount and indicating whether it is an addition of a Subcon Transaction has been done as an illustration Net income is not affected by every transaction. In some cases, only one Column may be afected because all of the specific accounts afected by the transaction are included in...
OPPORTUNITY COST & MARGINAL ANALYSIS the follo b. U.S. sonm ent c. 3. Indicate whether each...
OPPORTUNITY COST & MARGINAL ANALYSIS the follo b. U.S. sonm ent c. 3. Indicate whether each of the following statements applies to microeconomics or macroeconomics: The unemployment rate in the United States was 4.1 percent in January 2018. A U.S. software firm discharged 15 workers last month and transferred the work to India. An unexpected freeze in central Florida reduced the citrus crop and caused the price of oranges to rise. U.S. output, adjusted for inflation, decreased by 2.4 percent...
For each of the following transactions, state the effect both on U.S. GDP and on the four components of aggregate expenditure. a. Your mother-in-law buys a new car from a U.S. producer. U.S. GDP (Click to select) Of the four components of aggregate expenditure: consumption rises and net exports fall. investment rises and net exports fall. investment rises and net exports do not change. O consumption rises and net exports do not change. b. Your mother-in-law buys a new car...
For each of the following transactions, state the effect both on U.S. GDP and on the four components of aggregate expenditure a. Your mother buys a new car from a U.S. producer. us, GDP (Click to select) Of the four components of aggregate expenditure: net exports do not change and government purchases rise. investment rises and net exports do not change. investment rises and net exports fall. consumption rises and net exports do not change. consumption rises and net exports...
Indicate what components of GDP (if any) each of the following transactions would affect. Check all that apply. Government Purchases Net Exports Consumption Investment Transaction Uncle Henry buys a new refrigerator from a domestic manufacturer. Aunt Jane buys a new house from a local builder. The Jackson family buys an old Victorian house from the Walker family. You pay a hairdresser for a haircut. Ford sells a Mustang from its inventory to the Martinez family. Ford manufactures a Focus and...
Based on this definition, indicate which of the transactions in the following table will be included in that is, directly increase) the GDP of the United States in 2021. 2021 GDP Included Excluded Transaction You chop down a cherry tree on your property in California and make a dining room table in 2021. This table does not pass through an organized market, but a similar table sells for $800 in a local furniture store. Athleticus, a U.S. shoe company, produces...
Motif Furniture designs and sells modern furniture. For each of the following first-quarter transactions, indicate whether operating (O), investing (), or financing activities (F) are affected and whether the effect is a cash inflow (+) or outflow (-). Activity Cash Flow 1. Bought used equipment for cash 2 Paid cash to purchase new equipment 3. Declared and paid cash dividends to shareholders 4. Collected payments on account from customers 5. Recorded an adjusting entry to record accrued salaries expense Recorded...
For each of the following transactions or adjustments indicate the effect of the transaction or adjustment on assets, beties, and net income by entering for each account affected the account name and amount and indicating whether it is an addition of a Subcon Transaction has been done as an illustration Net income is not affected by every transaction. In some cases, only one Column may be afected because all of the specific accounts afected by the transaction are included in...
OPPORTUNITY COST & MARGINAL ANALYSIS the follo b. U.S. sonm ent c. 3. Indicate whether each of the following statements applies to microeconomics or macroeconomics: The unemployment rate in the United States was 4.1 percent in January 2018. A U.S. software firm discharged 15 workers last month and transferred the work to India. An unexpected freeze in central Florida reduced the citrus crop and caused the price of oranges to rise. U.S. output, adjusted for inflation, decreased by 2.4 percent...
Most questions answered within 3 hours.
-
Oxidative phosphorylation is achieved through chemiosmotic
coupling, which turns chemical energy into osmotic potential energy
that...
asked 2 hours ago -
Hollywood Shoes would like to maintain their cash account at a
minimum level of $64,000, but...
asked 2 hours ago -
Proteins CtrA-P, DnaA, and GcrA behave similarly to what
molecule in the Eukaryotic Cell Cycle?
asked 2 hours ago -
TRUE OR FALSE
In case of a competitive tender procedure, in the request for
quotation, the...
asked 2 hours ago -
I am a little behind please provide some explanation, will
provide thumbs up.
This question considers...
asked 2 hours ago -
Let say the utility function as U(X,Y) = lnX + Y. Show that the
marginal rate...
asked 2 hours ago -
A current of I=8.0A is flowing in a typical extension cord of
length L=3.00m. The cord...
asked 2 hours ago -
1. When balancing the equation H2SO4 (aq) + NaOH (aq) →
Na2SO4(aq) + H2O(aq), would you...
asked 3 hours ago -
Provide a definition of “classification hierarchy” and
illustrate your definition with an example of how and...
asked 3 hours ago -
1. Describe the four main green solvents. Provide one example of
the use of each solvent....
asked 3 hours ago -
International ethics focus on:
1) exploitation of labor
2)corruption
3) environmental impact
4) none of the...
asked 3 hours ago -
Costing Models You work for XYZ trucking and your boss has asked
you to figure out...
asked 3 hours ago