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Place the transactions below in their appropriate categories in the GDP and calculate the overall effect on the GDP of the United States. 1. My cost for auto repairs and inspection. ($1,000)
Place the transactions below in their appropriate categories in the GDP and calculate the overall effect on the GDP of the United States.
1. My cost for auto repairs and inspection. ($1,000)
2. The Moon township buys rock salt to maintain the municipality’s roads in the month of February ($2,000)
3. An RMU student goes to study in Ireland for a total cost of ($5,000)
4. A U.S. citizen buys a refrigerator from General Electric (A US company). ($1800)
5. A US retailer buys a new cash register ($1500)
6. The cost of auto parts used to repair my car ($300)
7. My total gasoline bill for a year ($1,500)
8. A Chinese citizen buys a U.S. government bond ($5,000)
9. A Landscaping firm’s gasoline costs for a year ($2,500):
10. A School district buys new uniforms for its basketball team ($1100)
11. I invest in a fidelity mutual fund ($2,000)
12. My total food cost for a year ($8,000)
13. An American bank loans a German citizen ($5,000)
14. An American buys a sewing machine to produce clothing for sale at a local flea-market ($500)
15. A Mexican worker in the United States sends part of her paycheck back to family in Mexico ($2,000)
16. The cost of a para-legal’s service for a district attorney ($2,500)
17. My total utility and insurance bills for a year ($3700)
18. I put a car port on my house ($2,000).
19. Auto maintenance on a Moon Township police vehicle ($600)
20. The German citizen in #13 makes a payment on the loan ($1,000).
