Kevin and Maria Singh live in Conshohocken, PA. Maria's father, Rajiv, lives in Sweden. for each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (1), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction Maria gets a new refrigerator made in the United States. Kevin buys a bottle of Italian wine. с I G X M
Kevin and Maria Singh live in Conshohocken, PA. Maria's father, Rajiv, lives in Sweden. for each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (1), government purchases (G), exports (X), or imports (M). Check all that apply. Transaction Maria gets a new refrigerator made in the United States. Kevin buys a bottle of Italian wine. с I G X M
Chapter11: Gross Domestic Product
Section: Chapter Questions
Problem 9SQ
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Transcribed Image Text:3. Categories of expenditures
Kevin and Maria Singh live in Conshohocken, PA. Maria's father, Rajiv, lives in Sweden.
For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C),
investment (1), government purchases (G), exports (X), or imports (M). Check all that apply.
Transaction
Maria gets a new refrigerator made in the United States.
Kevin buys a bottle of Italian wine.
Maria's father in Sweden orders a bottle of Vermont maple syrup from the producer's website.
Kevin's employer upgrades all of its computer systems using U.S.-made parts.
The Pennsylvania Department of Transportation, a state administration, fixes potholes along PA highway
23, which feeds into the center of Conshohocken.
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