Suppose you are measuring annual U.S. GDP by adding up the final value of all goods and

Question:

Suppose you are measuring annual U.S. GDP by adding up the final value of all goods and services produced in the economy. Determine the effect on GDP of each of the following transactions.

a. A seafood restaurant buys \(\$ 100\) worth of fish from a fisherman.

b. A family spends \(\$ 100\) on a fish dinner at a seafood restaurant.

c. Delta Air Lines buys a new jet from Boeing for \(\$ 200\) million.

d. The Greek national airline buys a new jet from Boeing for \(\$ 200\) million.

e. Delta Air Lines sells one of its jets to Jennifer Lawrence for \(\$ 100\) million.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Macroeconomics

ISBN: 9781292160504

7th Global Edition

Authors: Olivier J. Blanchard

Question Posted: