Brian and Crystal Alden live in Swarthmore, PA. Their son, Edison, owns his own plumbing business.
For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M).
Check all that apply.
Transaction C I G X M
Crystal gets a new video camera made in the United States.
Brian's employer assigns him to provide consulting services to an Australian firm that's opening a manufacturing facility in China.
Brian buys a sweater made in Guatemala.
The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore.
Edison buys a new set of tools to use in his plumbing business.

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Parrain Parrain · Answer 1 · 2021-06-27T05:21:41+02:00

Answer:

Crystal gets a new video camera made in the United States. ⇒ CONSUMPTION.

This was a purchase to satisfy the needs and wants of a household so will fall under consumption.

Brian's employer assigns him to provide consulting services to an Australian firm that's opening a manufacturing facility in China. ⇒ EXPORTS.

Exports refer to goods and services being sent to another country. Brian is providing services to another country so this is an export.

Brian buys a sweater made in Guatemala. ⇒ CONSUMPTION AND IMPORTS

This was bought to satisfy a household need so is consumption. It was also imported from another country so falls under imports.

The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore. ⇒ GOVERNMENT SPENDING.

The state government of Pennsylvania is the one that did the spending here so it falls under government spending.

Edison buys a new set of tools to use in his plumbing business. ⇒ INVESTMENT.

This falls under investments as it is a purchase of capital goods that are intended to help in production of goods and services.