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For each activity listed below, indicate




For each activity listed below, indicate where the activity would be recorded on the expenditure side of U.S. GDP accounting. Your choices are C (consumption), I (Investment), G (Government), X (Exports), M (Imports), and NR (not recorded). Please give a brief (one or two sentence) explanation for each answer.;a. Cancer treatment drugs produced in the U.S. are purchased by governments in Asia.;b. When students become sick with chickenpox, parents stay home from work to care for them.;c. Some parents are unable to take time off of work, so they pay private nurses to care for their sick children.;d. Grocery stores in the U.S. purchase H1N1 flu immunization shots produced in the U.S. to be administered to their employees.;e. A publisher purchases foreign-made computers to produce college textbooks.;f. Workplaces in the U.S. pay construction workers to build sanitizing stations, at which employees can thoroughly wash their hands before work.;2007 2008 2009;Good Quantity Price Quantity Price Quantity Price;CDs 100 18 120 20 140 18;Tennis rackets 60 75 70 90 90 100;Textbooks 80 65 100 80 90 100;2. Use the data in the preceding table above to answer (a) and (b) below.;a. Compute nominal GDP for 2007, 2008, and 2009.;b. Using 2007 as the base year, compute real GDP and the GDP implicit price deflator for 2007, 2008, and 2009.


Paper#27903 | Written in 18-Jul-2015

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