Gdp: is it counted and where? for each of the following items, write one of the following in the space provided: c if the item is counted as consumption spending, t if the item is counted as investment spending, g if the item is counted as government spending, nx if the item is counted as net exports, and nc if the item is not counted in gdp. 1. you spend $7.00 to attend a movie. __ 2. a family pays a contractor $100,000 for a house he built for them this year. __ 3. a family pays $75,000 for a house built three years ago. __ 4. an accountant pays a tailor $175 to sew a suit for her. __ 5. the government increases its defense expenditures by $1,000,000,000. __ 6. the government makes a $300 social security payment to a retired person. __ 7. you buy general motors corp. stock for $1,000 in the stock market. __ 8. at the end of a year, a flour-milling firm finds that its inventories of grain and flour are $10,000 above the amounts of its inventories at the beginning of the year. __ 9. a homemaker works hard caring for her spouse and two children. __ 10. ford motor co. buys new auto-making robots. __ 11. you pay $300 a month to rent an apartment. __ 12. apple computer co. builds a new factory in the united states. __ 13. r. j. reynolds co. buys control of nabisco. __ 14. you buy a new toyota that was made in japan. __ 15. you pay tuition to attend college. __ we count only the final retail price of a new good or service in gdp. why? a purely financial transaction will not be counted in gdp. why? when a homeowner does home-improvement work, the value of the labor is not counted in gdp. why?

Jewelry manufacturers produce a range of products such as rings, necklaces, bracelets, and brooches. what fundamental economic question are they addressing by offering this range of items?

Required information problem 15-1a production costs computed and recorded; reports prepared lo c2, p1, p2, p3, p4 [the following information applies to the questions displayed below. marcelino co.'s march 31 inventory of raw materials is $84,000. raw materials purchases in april are $540,000, and factory payroll cost in april is $364,000. overhead costs incurred in april are: indirect materials, $59,000; indirect labor, $26,000; factory rent, $38,000; factory utilities, $19,000; and factory equipment depreciation, $58,000. the predetermined overhead rate is 50% of direct labor cost. job 306 is sold for $670,000 cash in april. costs of the three jobs worked on in april follow. job 306 job 307 job 308 balances on march 31 direct materials $30,000 $36,000 direct labor 25,000 14,000 applied overhead 12,500 7,000 costs during april direct materials 133,000 210,000 $100,000 direct labor 105,000 150,000 101,000 applied overhead ? ? ? status on april 30 finished (sold) finished in process (unsold) required: 1. determine the total of each production cost incurred for april (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from march 31). a-materials purchases (on credit). b-direct materials used in production. c-direct labor paid and assigned to work in process inventory. d-indirect labor paid and assigned to factory overhead. e-overhead costs applied to work in process inventory. f-actual overhead costs incurred, including indirect materials. (factory rent and utilities are paid in cash.) g-transfer of jobs 306 and 307 to finished goods inventory. h-cost of goods sold for job 306. i-revenue from the sale of job 306. j-assignment of any underapplied or overapplied overhead to the cost of goods sold account. (the amount is not material.) 2. prepare journal entries for the month of april to record the above transactions. 3. prepare a schedule of cost of goods manufactured. 4.1 compute gross profit for april. 4.2 show how to present the inventories on the april 30 balance sheet.

The martinez legal firm (mlf) recently acquired a smaller competitor, miller and associates, which specializes in issues not previously covered by mlf, such as land use and intellectual property cases. given the increase in the firm's size and complexity, it is likely that its internal transaction costs willa. decrease. b. increase. c. become external transaction costs. d. be eliminated.