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
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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