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1a. Explain why it is the case that the value of intermediate goods produced and sold during the year is not included directly as part of GDP, but the value of intermediate goods produced and not sold is included directly as part of GDP.
1b. Since it is counted as investment, why doesn't the purchase of earthmoving equipment from China by a U.S. corporation increase U.S. GDP?
Identify the immediate effect of each of the following events on U.S. GDP and its components. Carefully explain your answer.
1c. James receives a Social Security check.
1d. John buys an Italian sports car.
1e. Henry buys domestically produced tools for his construction company.
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What can a financial institution often do for a deficit economic unit (DEU)that it would have difficulty doing for itself if the DEU were to deal directly with an SEU?
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CAUSES OF FAILURE OF LEGACIES AND GIFTS OF RESIDUE 1) Ademption : If property which has been specifically bequeathed does not belong to the testator at the time of his death,
2000
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