Can you solve the following question for me

Aug 13th, 2014
KateS
Category:
Accounting
Price: $10 USD

Question description

There are probably a thousand macro economic indicators, some measure the overall national economy, some are more limited in scope. The three most often quoted and publicized are the Gross Domestic Production Index (GDP), the Consumer Price Inflation Index (CPI) and the Unemployment Index.  Please complete the short answer questions regarding these three indicators:

1. Use the table below:

Table 6-1

Value (in billions)

Personal consumption expenditures

$1,000

Gross private domestic investment

$500

Net exports

$300

Imports

$180

Government purchases of goods and services

$280

Transfer Payments

$90

a. What is the value of GDP?

b. In each of the following cases, indicate if GDP is affected, under what category and what happens to GDP. Be sure to explain why or why it is not included.

-  You buy a used textbook from one of your classmates.

-  You buy a new umbrella.

-  Ella, a French tourist, has a haircut in a salon in San Francisco.

-  Oklahoma  cleans up after a devastating tornado.

-  A pension payment to a retired military person


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