Answer:
The purchase of the video game would increase consumption spending
The computer system upgrade would increase the investment spending by businesses
The firework would increase government spending
Darnel imported the wine. So, imports would increase Also, consumption spending would increase
The purchase of the syrup would increase export. The syrup was bought by someone in Sweden
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports – imports
When exports exceed import there is a trade deficit and when import exceeds import, there is a trade surplus.
Items not included in the calculation off GDP includes:
1. services not rendered to oneself
2. Activities not reported to the government
3. illegal activities
4. sale or purchase of used products
5. sale or purchase of intermediate products
The purchase of the video game would increase consumption spending
The computer system upgrade would increase the investment spending by businesses
The firework constitutes spending by government. government spending would increase
Darnel imported the wine. So, imports would increase Also, consumption spending would increase
The purchase of the syrup would increase export. The syrup was bought by someone in Sweden
