Consider the expenditure approach to the measurement of GDP. For each of the following situations, decide if the transaction will affect GDP and, if so, in which expenditure category will it be included. A household purchase of a home built in 2005. A household purchase of a newly built dishwasher. A farmer purchases a new tractor to work his or her field. A disabled individual receives a transfer from Oman government.The Sultanate Department of Defence buys ten helicopters just built in the U.S.A.

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Consider the expenditure approach to the measurement of GDP. For each of the following situations, decide if the transaction will affect GDP and, if so, in which expenditure category will it be included.
1. A household purchase of a home built in 2005.
2. A household purchase of a newly built dishwasher.
3. A farmer purchases a new tractor to work his or her field.
4. A disabled individual receives a transfer from Oman government.
5. The Sultanate Department of Defence buys ten helicopters just built in the U.S.A.

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