Tina walks into Ted’s sporting goods store and buys a punching bag for $100 dollars. That $100 payment counts as ________________ for Tina and _______________ for Ted.
a. Income; Expenditure.
b. Value added; Multiple Counting.
c. Expenditure; Income.
d. Rents; Profits.
2. Which of the following transactions would count in GDP?
Select one or more of the answers from the choices shown.
a. Kerry buys a new sweater to wear this winter.
b. Patricia receives a Social Security check.
c. Roberto gives his daughter $50 for her birthday.
d. Latika sells $1,000 of Google stock.
e. Karen buys a new car.
f. Amy buys a used car.
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