<2/2Part BGDP: Where and what is counted?For each of the following items, write one of the following in the space provided.C if the item is counted as consumption spendingI if the item is counted as investment spending▶G if the item is counted as government spendingXif the item is counted as exportsM if the item is counted as importsNC if the item is not counted in the calculation of the GDP11. You spend $7.00 to see the latest Justin Bieber movic.12. A family pays a contractor $100,000 for a house he built for them this year.13. A family pays $75,000 for a house built three years ago.14. An accountant from Ernst & Young purchases a new Italian suit.15. The government increases defense expenditures by $1,000,000,00016. A homemaker works hard caring for her spouse and two children.17. Ford Motor Company buys new auto-making robots.18. Apple Computer builds a new factory in the United States.19. You buy a new Toyota Tacoma that was made in Japan.20. A Japanese airline purchases two new Boeing 747s (*these are made in WA)

When an individual makes an exchange of goods and services, it will be counted in different…

Answered: Part B GDP: Where and what is counted?…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

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GDP 1. Calculate the values for the blanks in the shaded areas of the table below: Expenditure Components of GDP by Country, 2020 (83Son of current US dollars) Australia Canada Denmark Finland Japan India 1617 137.9 873 65.9 C E FOOD 80.0 65.3 16 0.5 L M N 195.4 97.G 1725 96.7 Household consumption Government expenditure Investments Gross fixed Investments Changes in inventories Net Exports Exports Imports A: ÄÜÄ÷ B: C: D: E: F: G: H: I: J: 746.5 K: L: 297.2 A 316.9 4.3 3152 254.7 943.7 371.8 B 377.7 (147) K 476.0 509.8 M: N: 0: P: 1,591.7 Q: R: 292.1 722.0 97.0 4973 $11.3 કીડી || T: 2.700.7 Y: 1,066.4 1,279.5 106 785.4 786.2 New Zealand UK 122.0 43.7 G 47.3 (p.s) P 46A GDP S U W Y Source: GOP by Type of Expenditure at current prices-US dollars, Retrieved 7/27/2022. National Accounts Estimates of Main Aggregates United Nations feste Division 472 Z: ZZ: 1,683.7 2. Based on the information in the table and your calculations for Question #1: Do any countries have positive net exports?…
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