Suppose the following transactions occur during the current year:
1. Bob orders 30 cases of beer from a Dutch distributor at a price of $40.00 per case.
2. A U.S company sells 100 textbooks to a Canadian company at $45.00 per textbook.
3. Eric, a U.S citizen, pays $1,100 for a computer he orders from Dellosoft a U.S company.
Complete the following table by indicating how the combined effects of these transactions will be reflected in the U.S, national accounts for the current year.
Be sure to enter a "0" if none of the transactions listed are included in a given category and to enter a minus sign when the balance is negative.
|Gross Domestic Product (GDP)|
Gross Domestic Product:
Gross Domestic Product refers to the measure in terms of money related to the market value of the finished services and goods which are produced within a particular period of time.
Answer and Explanation:
|Consumption (1,200 + 1,100)||2,300|
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from Economics 102: MacroeconomicsChapter 4 / Lesson 3