Macroeconomics 15th Edition by James Gwartney, Richard Stroup, Russell Sobel, David Macpherson

Exercise 7

Indicate how each of the following activities will affect this year's GDP:
a. the sale of a used economics textbook to the college bookstore
b. Smith's $500 doctor bill for setting her son's broken arm
c. family lawn services provided by Smith's 16-yearold child
d. lawn services purchased by Smith from the neighbor's 16-year-old child who has a lawn-mowing business
e. a $5,250 purchase of 100 shares of stock at $50 per share plus the sales commission of $250
f. a multibillion-dollar discovery of natural gas in Oklahoma
g. a hurricane that causes $10 billion of damage in Florida
h. $60,000 of income earned by an American college professor teaching in England