If max receives an unemployment check, would we include that transfer payment from the government in this year’s gdp? why or why not? 2) in the following situations, explain what is counted in this year’s gdp: a. you bought a new wii at gamestop last year and resold it on ebay this year. b. you purchase an investing for dummies book at barnes and noble. c. you purchase a historic home using the services of a real estate agent. d. you purchase a tire to replace the damaged tire on your car. e. you spend your saturday cutting grass at your house. 3) to which component of gdp expenditure (c, i, g, or nx) does each of the following belong? a. a tank purchased by the u. s. army. b. swiss chocolates imported from europe. c. a new home. d. a candy bar you purchase. 4) many goods and services are illegally sold or legally sold, but not reported to the government. how would increased efforts to count those goods and services affect our calculation of gdp? would it increase, decrease, or stay the same? why? 5) fill in the missing data in the following table:

year nominal gdp real gdp gdp deflator

2007 1.00 ? 90.00

2008 ? 113000.00 100.00

2009 125000.00 114000.00 ?

2010 15.00 ? 119.00

2011 ? 145000.00 136.00

The owners of backstreets italian restaurant are considering starting a delivery service forpizza and their other italian dishes in the small college town where they are located. theycan purchase a used delivery van and have it painted with their name and logo for $21,500.they can hire part-time drivers who will work in the evenings from 5 p.m. to 10 p.m. for$8 per hour. the drivers are mostly college students who study at the restaurant when theyare not making deliveries. during the day, there are so few deliveries that the regular employeescan handle them. the owners estimate that the van will last 5 years (365 days per year)before it has to be replaced and that each delivery will cost about $1.35 in gas and othermaintenance costs (including tires, oil, scheduled service, they also estimate that onaverage each delivery order will cost $15 for direct labor and ingredients to prepare andpackage, and will generate $34 in revenue.a. how many delivery orders must backstreets make each month in order for the service to break even? b. the owners believe that if they have approximately the break-even number of deliveries during the week, they will at least double that number on fridays, saturdays, and sundays. if that’s the case, how much profit will they make, at a minimum, from their delivery service each month (4 weeks per month)?

Which of the following is correct? a. a tax burden falls more heavily on the side of the market that is more elastic.b. a tax burden falls more heavily on the side of the market that is less elastic.c. a tax burden falls more heavily on the side of the market that is closer to unit elastic.d. a tax burden is distributed independently of the relative elasticities of supply and demand.

Sailcloth & more currently produces boat sails and is considering expanding its operations to include awnings for homes and travel trailers. the company owns land beside its current manufacturing facility that could be used for the expansion. the company bought this land 5 years ago at a cost of $319,000. at the time of purchase, the company paid $24,000 to level out the land so it would be suitable for future use. today, the land is valued at $295,000. the company has some unused equipment that it currently owns valued at $38,000. this equipment could be used for producing awnings if $12,000 is spent for equipment modifications. other equipment costing $490,000 will also be required. what is the amount of the initial cash flow for this expansion project?