Question

Back to Assignment Attempts: Keep the Highest: /1 4. Categories of expenditures Raphael and Susan Firth live in Swarthmore, PA. Susan's father, Alex, lives in Sweden. For each of the following transactions, identify whether it is included in the calculation of U.S. GDP as part of personal consumption expenditures (C). gross private domestic Investment (1), government consumption expenditures and gross investment (G), exports (X), or imports (M). Check all that apply. Note: A products inclusion in one category does not necessarily imply that it is excluded from other categories Transaction The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore. O C CX M O O O Susan gets a new refrigerator made in the United States. Raphael buys a sweater made in Guatemala. Raphael's employer upgrades all of its computer systems using U.S.-made parts. Alex in Sweden orders a bottle of Vermont maple syrup from the producer's website. Grade It Now Save & Continue Continue without saving

Answer 1

Ans) GDP = C+I+G+NX;

Where C is personal consumption i.e the things bought by consumers for their own use. Here refrigerators and sweater are consumption.

I stands for investment. Investment is something which is for future consumption and for increasing the productivity. Here, computer is investment.

G is government spending. Government spends in highways, military, police, education, healthcare etc.

NX is net export. Which is export (X) - import (M). Export is something which sent from home country to another and import is something which comes from another country to home country.

Back to Assignment Attempts: Keep the Highest: /1 4. Categories of expenditures Raphael and Susan Firth live in Swarthmore, PA. Susan's father, Alex, lives in Sweden. For each of the following transactions, identify whether it is included in the calculation of U.S. GDP as part of personal consumption expenditures (C). gross private domestic Investment (1), government consumption expenditures and gross investment (G), exports (X), or imports (M). Check all that apply. Note: A products inclusion in one category does not necessarily imply that it is excluded from other categories C TGX M Transaction The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore. Susan gets a new refrigerator made in the United States. Raphael buys a sweater made in Guatemala. Raphael's employer upgrades all of its computer systems using U.S.-made parts. Alex in Sweden orders a bottle of Vermont maple syrup from the producer's website. Grade It Now Save & Continue Continue without saving