Question: Would the following be counted in GDP? If so, explain how it enters GDP (C, I, G, or (X-M)) and why. If not, explain why

Would the following be counted in GDP? If so, explain how it enters GDP (C, I, G, or (X-M)) and why. If not, explain why not. a. Nabisco's purchase of flour to make cookies. b. Your purchase of flour to make cookies for your study group. c. The Pentagon's purchase of flour to make cookies for soldiers. d. Nabisco's purchase of an oven to bake cookies. e. Your purchase of Hungarian hazelnuts to put in your cookies

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!