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The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
Edition 13ISBN: 9780132992695The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
Edition 13ISBN: 9780132992695 Exercise 2
Consider the following situations:
(a) An American citizen is hired to work on a pipeline in Iraq. How does this affect U.S. GDP? How does it affect Iraqi GDP?
(b) A professor from France is hired this year to teach French at Ivy College in the United States. What happens to U.S. GDP? What happens to the GDP of France?
(c) "Americans pay $30 billion a year in health care costs associated with smoking?" How would those expenditures affect GDP?
(a) An American citizen is hired to work on a pipeline in Iraq. How does this affect U.S. GDP? How does it affect Iraqi GDP?
(b) A professor from France is hired this year to teach French at Ivy College in the United States. What happens to U.S. GDP? What happens to the GDP of France?
(c) "Americans pay $30 billion a year in health care costs associated with smoking?" How would those expenditures affect GDP?
Explanation
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The Gross Domestic Product (GDP) is the ...
The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
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