PS3_f09 - 2. In 2000 the People’s Republic of China had a...

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1. Would the following enter GDP? If so, explain how it enters GDP (C, I, G, or X- M) and why. If not, explain why not. a. Nabisco’s purchase of flour to make cookies b. My Czech wife’s purchase of Pilsner Urquell, a Czech beer, at the Ardmore beer mart. c. The Defense Department’s purchase of flour to make cookies for soldiers d. My purchase of a new oven made by GE e. Nabisco’s purchase of a new oven made by GE
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Unformatted text preview: 2. In 2000 the People’s Republic of China had a GDP of about $4.3 trillion. Belgium had a GDP of about $506 billion for a population of about 10.2 million. Which country was better off? Why? 3. In 2008, GDP per capita in Japan was about $39,000, and GDP per capita in the US was about $47,000. Use what you know about GDP to explain why Japanese aren’t clamoring to move to the United States....
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This note was uploaded on 04/28/2011 for the course ECON 1101 taught by Professor Rappoport during the Fall '08 term at Temple.

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