Explain whether or not each of the following transactions should be included in GDP: (a) Sale of 12 bottles of Chilean wine by a Brazilian tourist in a duty-free store at Santiago International Airport. (b) Sale of a new residential building constructed on site of a group of houses that were demolished. (c) Sale of a PlayStation online game.
Explain whether or not each of the following transactions should be included in GDP: (a) Sale of 12 bottles of Chilean wine by a Brazilian tourist in a duty-free store at Santiago International Airport. (b) Sale of a new residential building constructed on site of a group of houses that were demolished. (c) Sale of a PlayStation online game.
Chapter5: National Income Accounting
Section: Chapter Questions
Problem 2E
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Explain whether or not each of the following transactions should be included in
(a) Sale of 12 bottles of Chilean wine by a Brazilian tourist in a duty-free store at Santiago International Airport.
(b) Sale of a new residential building constructed on site of a group of houses that were demolished.
(c) Sale of a PlayStation online game.
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