Zander read a report about the nation’s GDP from last year. The report talks about the...
Zander read a report about the nation’s GDP from last year. The report talks about the investment expenditures. What is included in the GDP calculation of investment?
| purchase of new private housing |
| total value of capital stock |
Which of the following is included in a measure of GDP?
| spending on non-market transactions like painting your house |
| spending on public infrastructure |
| spending on used goods |
| additions to inventories |
Homework Answers
(1) Option (A)
Investment = Residential investment (new purchase) + Non-Residential investment (new purchase) + Change in Inventory
Since investment (and GDP) is a flow concept but total capital is a stock concept, value of total capital stock is not included in investment or GDP.
(2) Option (D)
Addition (increase) to business inventory is a component of gross domestic private investment of GDP.
NOTE: If multiple options are allowed, option (B) is also possible since spending on public infrastructure is part of government spending on goods and services, a component of GDP. In that case, correct options are (B) and (D).
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