For Each of the Following, How Would They Be Included

question 107

Essay

For each of the following, how would they be included in the national income accounts?
a.The University of California buys a new computer.b.Charles buys a new MP₃ player.c.Marian buys a new mountain cabin.d.Vikki buys an old mansion with hopes of restoring it.e.Farmer Brown buys a used combine harvester.

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Definitions:

Magnitudes

Measures or levels of size, volume, amount, or extent of physical quantities or statistical values, often used in comparisons.

Variance

A statistical measure of the dispersion or spread of data points in a data set, indicating how far each data point in the set is from the mean.

Mean

The arithmetic average of a set of numbers, calculated by adding them together and dividing by the count of numbers.

Aged

Refers to something or someone of advanced age; in statistics, it might relate to data or populations that are considered old or outdated.