Calculate the Contribution to GDP That Would Be the Result

question 86

Essay

Calculate the contribution to GDP that would be the result of each of the following transactions:
(a)The government purchases an airplane for $6 million.
(b)A citizen sells a used car for $6,000.
(c)A citizen sells a used car to a dealer for $6,000,who resells it to a consumer for $7,500.
(d)A citizen sells a bond for $1,000 that they bought last year for $600.
(e)The government issues a social security check for $1,250 (ignore the administrative costs of issuing the check).

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Definitions:

Life Expectancies

The average period that an individual is expected to live based on demographic factors such as the person's current age, gender, and health.

Health Care

The organized provision of medical services to individuals or communities, including prevention, diagnosis, treatment, and management of illnesses and injuries.

Genetic Differences

Variations in the DNA sequences among individuals of a species that contribute to biological diversity and influences traits and susceptibility to certain diseases.

Assimilation

A pattern of relations between ethnic or racial groups in which the minority group is absorbed into the mainstream or dominant group, making society more homogeneous.