GDP consists of four parts-consumer goods and services, government purchases of goods and services, investment goods,...

 

  

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GDP consists of four parts-consumer goods and services, government purchases of goods and services, investment goods, and exports and imports. C family (household) spending on consumer goods and services G = government purchases of goods and services I = = spending by firms and households on new capital such as factories, tools, inventory increases or decreases, and new houses NX = exports are added to GDP and imports are subtracted. Determine the GDP component (C, G, or I) for each box. Video Games 8,000 dollars Factory 24,000 dollars Cruise Missile 10,000 dollars Butter 1,000 dollars Family Minivan 50,000 dollars Manicures 2,000 dollars New Roads 10,000 dollars Books 5,000 dollars Bread 5,000 dollars Concerts 1,000 dollars Increase in toy inventory 1,000 dollars Visits to Doctor's Office 20,000 dollars C= Calculate GDP. |= Candy Bars 5,000 dollars G= (x-m) = GDP= Imports 5000 Apples 3,000 dollars Exports 3000 Formula-GDP (Y)-C+I+G+(X-M) Police Protection 5,000 dollars GDP consists of four parts-consumer goods and services, government purchases of goods and services, investment goods, and exports and imports. C family (household) spending on consumer goods and services G = government purchases of goods and services I = = spending by firms and households on new capital such as factories, tools, inventory increases or decreases, and new houses NX = exports are added to GDP and imports are subtracted. Determine the GDP component (C, G, or I) for each box. Video Games 8,000 dollars Factory 24,000 dollars Cruise Missile 10,000 dollars Butter 1,000 dollars Family Minivan 50,000 dollars Manicures 2,000 dollars New Roads 10,000 dollars Books 5,000 dollars Bread 5,000 dollars Concerts 1,000 dollars Increase in toy inventory 1,000 dollars Visits to Doctor's Office 20,000 dollars C= Calculate GDP. |= Candy Bars 5,000 dollars G= (x-m) = GDP= Imports 5000 Apples 3,000 dollars Exports 3000 Formula-GDP (Y)-C+I+G+(X-M) Police Protection 5,000 dollars