Econ 111 principles of economics - accelerated treatment -, Ask an Expert

Economics

Econ 111: Principles of Economics - Accelerated Treatment - Quiz 7

For each of the transactions below, state whether they count as part of American 2012 GDP or not. If they do, state which component of GDP they affect. If they don't, explain why not. Briefly explain your answer.

a) You just planted a new tree in your back yard and lots of tulip bulbs for next spring.

b) You buy a used car while you are in College.

c) You are studying abroad in Japan this year and you are teaching some English on the side for some extra money.

d) Your uncle won $1 million in the state lottery.

e) Unsold Ford Taurus from 2013.

f) You just paid your taxes to the government for 2013.

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91836138

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question in early 1975 the government distributed 8 billion

Question: In early 1975, the government distributed $8 billion in one-time tax rebates to try to move the economy out of its most severe post-WWII recession. What impact do you think this had on consumption and saving? I ...

Question select a developed country that has implemented a

Question: Select a developed country that has implemented a tariff and a developing country that manufactures products that are affected by that same tariff. Investigate the impact of the trade barrier on the developing ...

Question from earlier chapters you will recall that

Question: From earlier chapters you will recall that technological change shifts the average cost curves. Draw a graph showing how technological change could influence intra-industry trade. The response must be typed, si ...

Question in your own words but with accuracy state and

Question: In your own words but with accuracy, state and explain the second version of Kant's Categorical Imperative. Give an example and explain whether it accord with this imperative or not. The response must be typed, ...

Question imagine that 50-year-old men can be divided into

Question: Imagine that 50-year-old men can be divided into two groups: those who have a family history of cancer and those who do not. For the purposes of this example, say that 20% of a group of 1,000 men have a family ...

Question new us tax legislation could include a tax credit

Question: New U.S. tax legislation could include a tax credit for the use of alternative energy sources that significantly reduces the cost of using alternative fuels. Explain, in economic terms, how this may impact the ...

Question in the early 1980s the us rate of inflation fell

Question: In the early 1980s, the US rate of inflation fell from 13% to 4%, government regulation decreased and deregulation increased, and the Reagan Administration passed significant tax incentives to boost saving and ...

Question say the new york stock exchange average fell by 2

Question: Say the New York Stock Exchange average fell by 2 percent yesterday, and commentators spoke of a rush to sell. Because there had to be a purchaser of every share sold, why didn't they talk about a rush to buy? ...

Question a competitive firm produces output using three

Question: A competitive firm produces output using three fixed factors and one variable factor. The firm's short-run production function is q = 305 x - 2 x 2 , where x is the amount of variable factor used. The pric ...

Question a business that engages in substantial trading of

Question: A business that engages in substantial trading of commodities, currencies, and financial instruments must trust its traders to act with some prudence and with knowledge that the company's overall financial perf ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Microeconomics Expert