Question: I need help with the problem below. For each of the following transactions, determine if it takes place in the market for outputs or the

I need help with the problem below.

For each of the following transactions, determine if it takes place in the market for outputs or the market for inputs. Then, determine the direction of the flow of goods and services and the flow of money between households and businesses. Finally, determine how GDP as measured by the market value of output, spending on output, income received, or wages and profits changes.

a/ Labanya purchases a robotic vacuum cleaner on Amazon for $375

b/ Matt gets paid $3000 to teach a creative writing class at his local community college

c/ Dollar General hires 10 new workers at the federal minimum wage to staff a new store

d/ 96 million people purchased a monthly Spotify Premium subscription for $10 last month

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

16.Inflation is defined as a period of rising productivity in the economy. b period of rising income in the economy. c. an increase in the overall level of output in the economy. d. an increase in...

1. For each of the following transactions, determine if it takes place in the market for outputs or the market for inputs. Then, determine the direction of the flow of goods and services and the flow...

Hi I'M Leona and I was wondering if I could get some help with this assignment Asap. Thank you so much in advance and I hope to hear from you soon Individual Income Taxation Take Home Quiz 1 Fall...

Exercise 1.19 Dakota company experienced the following events during 2018: 1 Acquired 30,000 cash from issue of common stock 2.Paid 12,000 cash to purchase land 3.Borrowed 10,000 cash. 4.Provided...

MBA 505: Problem Set 3 Problem 1: The cargo shipping industry is in the business of shipping freight between ports all over the world. It is a fragmented industry consisting of a large number of...

Investment and financing decisions, which may be short-term or long-term decisions are best described as: financial decision making. economic decision making. accounting decision making. Mutual...

Problem 1.33 *Mikes company experienced the following transactions for 2018, its first year of operations and 2019.Assume that all transactions involve the receipt or payment of cash and Problem 1.34...

Page 1 and Page 2 Problem 1: The cargo shipping industry is in the business of shipping freight between ports all over the world. It is a fragmented industry consisting of a large number of...

Design a logic circuit that shows METE KARA in a 7-segment display with a counting period of 1 second, The logic circuit lights up a red LED while showing the letters of the word METE and blue LED...

What are the similarities and differences between the terms depreciation, depletion, and amortization?

I. VAT EXEMPT PERSONS- This exemption is not contingent on the type of transaction but is based on the person's registration and legal qualification such as sales of vegetables and fruits /...

The Central Stores Funds of the City of Bilbo provides centralized management of purchasing, storage, and issue of supplies for the entire City. For the following summarized transactions and event...

Question create an income statement and a Schedule of Cost of Goods Manufactured [in good form] with the numbers provided. Total Food Results for the year ended August 31, 2020 Revenue Discount...

NATIONAL INCOME Consider an economy in which the price level is equal to one and the goods and money markets are described by the following equations: Money Supply (Ms) =100 Consumption (c)...

You have the following information for CM Radio & Co. for the first six months of 2012: i. Cost and prices unchanged i1. Cost sales - 25% and credit sales - 75% iii. 60% of credit sales are collected...

Kevin and Nicole form Indigo Corporation with the following transfers: inventory from Kevin (basis of $360,000 and fair market value of $500,000, subject to a lien for a loan of $100,000 used to...

Q 9 ) ( 1 0 % ) Consider the following cascade connection of systems - z 1 = - x 1 + 2 x 2 + u 1 x 2 = - x 2 + u 2 z = - z 3 + z 1 2 x 1 - 2 x 2 + z 1 x 2 ( i ) Is it locally input - to - state -...

2. A Soviet invasion of Poland would lead to the severing of diplomatic relations between the United States and the Soviet Union.

1. Diplomatic relations between the United States and the Soviet Union would be severed in 1993 than that

1. To provide knowledge about various influencing techniques in communication situations.