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3 years ago

Indicate what components of GDP (if any) each of the following transactions would affect. Check all that apply.

Business

1 answer:

uranmaximum [27]3 years ago

6 0

Answer and Explanation:

As we know that

Gross domestic product = Consumption + Investment + Government purchase + Net exports

where,

Net exports = Exports - imports

a. Uncle Paul pays a domestic contractor to have his house renovated. = Consumption

b. Aunt Jane buys a new house from a nearby building firm. = Investment

c. You buy chocolate from Belgium in a box. = Consumption & net exports

d. Ford is making a Focus and marketing it to Avis, the car rental company. = Investment

To fix a leak in your bathroom you pay a domestic plumber. = Consumption

e. Ford is selling a Mustang to the Martinez family from its inventory. = Consumption and investment

f. California is hiring people to repave Highway 101. = Government purchase

g. The Federal government is sending a Social Security check to your grandmother. The same is not involved in GDP as it has transfer payment

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