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).

a. Dmitri and Frances Cuttner live in Swarthmore, PA. Their son, Jake, owns his own plumbing business.
b. Dmitri's employer assigns him to provide consulting services to an Australian firm that's opening a manufacturing facility in China.
c. The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore.

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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).

a. Dmitri and Frances Cuttner live in Swarthmore, PA. Their son, Jake, owns his own plumbing business.
b. Dmitri's employer assigns him to provide consulting services to an Australian firm that's opening a manufacturing facility in China.
c. The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore.

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Parrainid Parrainid · Answer 1

Answer:

a. is not meant to be a question but rather a description of the scenario faced by the family.

b. Dmitri's employer assigns him to provide consulting services to an Australian firm that's opening a manufacturing facility in China. ⇒ Exports (X)

Exports refer to when a country sends goods and/or services to another country. Here the U.S. company was sending services to an Australian company so this is an export.

c. The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore. ⇒ Government purchases (G)

Government purchases refer to spending by the government. The state of Pennsylvania is a state government so when it spends, it is considered government spending.