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definitions for the following three key macroeconomic variable; real gross product, consumer price index and
definitions for the following three key macroeconomic variable; real gross product, consumer price index and
unemployment. Formulas can be used.
Place each of the following transaction in one of the four components of expenditure: consumption, investment, government purchases, and net exports.
a. A domestic consumer buys a bicycle built in Italy
b. A domestic bicycle manufacturer builds a bicycle in December but for sale in January.
c. A domestic consumer sells a bicycle to and American consumer.
d. The Government of Ontario runs a bicycle training program.
e. A domestic bicycling manufacture buys the latest bicycle manufacturing equipment from a supplier in France.
