Discuss and explain the impact of each transaction below on the calculation of the gross domestic product
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Question:
Discuss and explain the impact of each transaction below on the calculation of the gross domestic product in the current year in no more than three sentences.
- A household buys a new home appliance from a local manufacturer in the current year.
- The local manufacturer in letter a buys raw material inputs from a local supplier to produce home appliances in the current year.
- The local manufacturer in letter a buys second-hand capital goods from another manufacturer in the current year.
- The local manufacturer in letter a sells new home appliance to an affiliate company abroad in the current year.
- The local manufacturer in letter a sells home appliance to households in the current year. The home appliance were produced and stored in a warehouse a year ago.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: