HI5003 Tutorial Questions On Economics For Business

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Question 4: Week 8 Question 1, (7 marks)

Discuss which of the following fall into the categories of consumption, investment, government expenditure and net exports from the Y = C + I + G + NX (X – M) identity, and whether the impact is to increase or decrease GDP.

  1. Charles buys a second-hand textbook from Tim. (1 mark)
  2. When Charles bought the book, he paid Sarah $10 to collect it from Tim. (1.5 marks)
  3. Thomas buys a new house (1 mark)
  4. Your firm sells meat to Indonesia (1 mark)
  5. The fish and chips shop down the road buys fish to make meals for diners. (1 mark)
  6. The same shop buys a deep fryer to fry fish for meals. (1.5 marks)

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