Indicate Whether the Following Transactions Would Be Included in GDP

question 28

Essay

Indicate whether the following transactions would be included in GDP. If they are included, indicate which component (consumption, investment, government consumption and gross investment, or net exports) of GDP would be affected.
a.A Czech student attending school in Florida takes a summer job as a lifeguard.
b.A New York company buys welding equipment from a St. Louis firm to help it build jet fighters.
c.The IRS purchases a new computer from the GATS computer company (an American-owned business producing and operating in Germany) that will allow it to better detect income tax evasion.

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Definitions:

Sensory Overload

A condition where one or more of the body's senses experiences overstimulation from the environment.

Albuterol

A medication used to treat and prevent bronchospasm in people with asthma or chronic obstructive pulmonary disease (COPD).

Aromatherapy

The use of essential oils from plants for healing purposes, believed to promote physical, emotional, and mental well-being through inhalation or direct application.

Rosemary

A fragrant herb commonly used in cooking, which also has potential health benefits, such as antioxidant properties and enhancing memory.