By how much does the GDP increase in each of the following scenarios? 1. You spent $6000 on college tuition this semester -> increases by 2. You buy a used car from a car dealership for $2500 and pay $500 as a service fee -> increases by 3. International student working as TA at your university earns $2300. -> increases by (write just the number, do not use the dollar sign when filling the blank)
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When you spend $6000 on college tuition, this transaction contributes to the GDP as it represents consumption expenditure. Therefore, the GDP increases by $6000. Show more…
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