MACROECONOMICS FOR TODAY
10th Edition
ISBN: 9781337613057
Author: Tucker
Publisher: CENGAGE L
expand_more
expand_more
format_list_bulleted
Question
Chapter 5, Problem 2SQ
To determine
The items included in the calculation of
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Which of the following would not be counted in the calculation of GDP? Select all that apply.
A.
purchasing a puppy from a farmer with a reputation for not paying taxes
B.
washing your clothes
C.
government spending on social security
D.
buying a brand new car
E.
paying for a chef to cook your meals
F.
paying for a flight to Las Vegas
Which of the following would be captured and included in the calculation of GDP?
A) The cost of hospital stays.
The rise in life expectancy over time.
(C) Child care provided by a licensed day care center.
Child care provided by a grandmother at home.
A used car sale to the Brown family.
A new car sale to the Brown family.
(G) The greater variety of cheese available in supermarkets.
The iron that goes into the steel that goes into a refrigerator bought by the Brown family.
Which of the following are included in GDP, and which are not? a. The cost of hospital stays b. The rise in life expectancy over time c. Child care provided by a licensed day care center d. Child care provided by a grandmother e. A used car sale f. A new car sale g. The greater variety of cheese available in supermarkets h. The iron that goes into the steel that goes into a refrigerator bought by a consumer
Chapter 5 Solutions
MACROECONOMICS FOR TODAY
Ch. 5.6 - Prob. 1YTECh. 5 - Prob. 1SQPCh. 5 - Prob. 2SQPCh. 5 - Prob. 3SQPCh. 5 - Prob. 4SQPCh. 5 - Prob. 5SQPCh. 5 - Prob. 6SQPCh. 5 - Prob. 7SQPCh. 5 - Prob. 8SQPCh. 5 - Prob. 9SQP
Ch. 5 - Prob. 10SQPCh. 5 - Prob. 11SQPCh. 5 - Prob. 12SQPCh. 5 - Prob. 13SQPCh. 5 - Prob. 1SQCh. 5 - Prob. 2SQCh. 5 - Prob. 3SQCh. 5 - Prob. 4SQCh. 5 - Prob. 5SQCh. 5 - Prob. 6SQCh. 5 - Prob. 7SQCh. 5 - Prob. 8SQCh. 5 - Prob. 9SQCh. 5 - Prob. 10SQCh. 5 - Prob. 11SQCh. 5 - Prob. 12SQCh. 5 - Prob. 13SQCh. 5 - Prob. 14SQCh. 5 - Prob. 15SQCh. 5 - Prob. 16SQCh. 5 - Prob. 17SQCh. 5 - Prob. 18SQCh. 5 - Prob. 19SQCh. 5 - Prob. 20SQ
Knowledge Booster
Similar questions
- Which of the following are included in GDP calculations? a. Cleaning services performed by Molly Maid Corporation b. Lawn-mowing services performed by a neighborhood child c. Drugs sold illegally on a local street comer d. Prescription drugs manufactured in the United States and sold at a local pharmacy e. A rug woven by hand in Turkey f. Air pollution that diminishes the quality of the air you breathe g. Toxic-waste cleanup performed by a local company h. Car parts manufactured in the United States for a car assembled in Mexico i. A purchase of 1,000 shares of IBM stock j. Monthly Social Security payments received by a retireearrow_forwardWhat components of GDP (if any) would each of the following transactions affect? Explain. (a) Aunt Bee buys a new dining room table produced by a domestic manufacturer. (b) Mr. Davis hires a local contractor to build a new house. (c) Buick sells a new Envision SUV to Enterprise Rent-A-Car. (d) The federal government sends your Uncle Dave a disability check (Social Security Disability Insurance). (e) You purchase $100,000 worth of U.S. Treasury bonds. (f) Your parents purchase 3 pounds of authentic Prosciutto di Parma (produced in the Italian city of Parma). (g) The City of Trenton purchases three new police cruisers.arrow_forwardWhich of the following transactions would NOT be counted in GDP? Select one: a. Nike builds a retail store. b. Your mother buys 100 shares of Nike stock. c. Your mother buys a pound of Washington-grown apples. d. The Indiana state government pays for repair of a damaged bridge over the Wabash River.arrow_forward
- Which of the following is included in Gdp? Select one: a. medicare b. social security payments c. government purchases d. interest payments on the government debtarrow_forwardWhich of the following transactions count towards GDP? Buying a used car from your friend. Buying a home built in 2000. Buying a newly constructed condo. Lending money to a friend who just bought a home. B.arrow_forwardGross Domestic Product (GDP) in 2011 would include which of the following transactions? (A) The purchase of a 1993 Chevrolet pickup truck B) The purchase of 1,939 shares of General Motors stock (C) The purchase of a movie ticket to a screening of the classic 1939 movie Gone with the Wind (D) Margaret receiving a Social Security check of $1939 from the US government (E) Eli selling Max his old golf clubs for $193 2arrow_forward
- Which of the following are included in this year’s GDP? Which are excluded or included. a. Interest received on an AT&T corporate bond: b. Social Security payments received by a retired factory worker: c. Unpaid services of a family member who painted the family home: d. Income of a dentist from the dental services she provided: e. A monthly allowance that a college student receives from home: f. Money received by Josh when he resells his nearly brand-new Honda automobile to Kim: g. The publication and sale of a new college textbook: h. An increase in leisure resulting from a 2-hour decrease in the length of the workweek, with no reduction in pay: i. A $2 billion increase in business inventories: j. The purchase of 100 shares of Alphabet (the parent company of Google) stock:arrow_forwardWhich of the following transactions should or should not be counted in GDP? Answer Yes or No and briefly explain your answer. Answers without explanation will not be considered in grading, even if they are correct. a. A Picasso painting sold at an auction for $30 million b. $20 million tires purchased by Ford Motor Company c. A $100 million Initial Public Offering (IPO) by Gameboy d. A new tennis racket purchased by Roger Federer e. A new tunnel under the Hudson f. $20,000/year value of grandparents' baby-sitting their grandson g. A $15 Pizza h. A $1,200 stimulus check sent to households by the government as COVID reliefarrow_forwardWhich of the following transactions are or are not included in GDP? 1. The pollution created when building an electric car battery. 2. Your parent washes, dries, and folds your laundry. 3. You consume a meal at Jack in the Box. 4. You buy a Rolex watch on the streets of Redwood City. 5. You volunteer to help clean up at your church after services on Sunday. 6. You write a Yelp review of Dr. Eck's restaurant.arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
Economics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning
Brief Principles of Macroeconomics (MindTap Cours...EconomicsISBN:9781337091985Author:N. Gregory MankiwPublisher:Cengage Learning
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning
Brief Principles of Macroeconomics (MindTap Cours...
Economics
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:Cengage Learning