Question

Assign each of the following to a category of GDP. Assume products are made domestically unless indicated otherwise: You buy a carmultiple:____. 1. Consumption 2. Investment 3. Govt. Purchases 4. Imports

asked Apr 23, 2022 200k views

Assign each of the following to a category of GDP. Assume products are made domestically unless indicated otherwise:

You buy a carmultiple:____.
1. Consumption
2. Investment
3. Govt. Purchases
4. Imports or Exports
A bakery buys a new:_____.
A. Consumption
B. Investment
C. Govt. Purchases
D. Imports or Exports
You get a haircut:_____.
A. Consumption
B. Investment
C. Govt. Purchases
D. Imports or Exports
Your town buys a fire truck:_____.
A. Consumption
B. Investment
C. Govt. Purchases
D. Imports or Exports
You buy shoes made in Thailand:_____.
A. Consumption
B. Investment
C. Govt. Purchases
D. Imports or Exports
The Federal Government builds a bridge:_____.
A. Consumption
B. Investment
C. Govt. Purchases
D. Imports or Exports
A private hospital buys a new MRI machine:_____.
A. Consumption
B. Investment
C. Govt. Purchases
D. Imports or Exports
You stay in a hotel in Italy:_____.
A. Consumption
B. Investment
C. Govt. Purchases
D. Imports or Exports

Ewalel asked

by Ewalel

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OfskyMohsen · Answer 1 · 2022-04-26T22:36:09+0000

Answer:

*Buy Car = Consumption

*A bakery buys a new = Investment

*You get a haircut = Consumption

*Fire truck = Govt. purchase

*Buy shoes made in Thailand = Import or export

*Government build bridge = Govt. purchase

*Buy new MRI machine = Investment

*Stay in hotel in Italy = Import or Export

Step-by-step explanation:

The component of GDP is Consumption, Investment, Government Expenditure, and import-export. Here, consumption is denoted by C, Investment is denoted by I, Government expenditure is denoted by G and Import-export is denoted by NX. Since the car bought for use that means the person is consuming it. While the haircut includes the consumption of service and buying a new bakery is an investment. Similarly below is the list for which the following product belongs.