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Classify each of the following items as a final good or service or an intermediate good or​ service, and identify which is a component of consumption​ expenditure, investment, or government expenditure on goods and services.
A. Airline ticket is bought by a student.
B. New airplanes bought by Southwest Airlines.
C. Cheese bought by Domino's.
D. Your purchase of a new iPhone.
E. New house bought by Bill Gates.

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Answer:

A. Airline ticket is bought by a student.  FINAL SERVICE THAT INCREASES PRIVATE CONSUMPTION

B. New airplanes bought by Southwest Airlines.  FINAL GOODS THAT INCREASE PRIVATE INVESTMENT

C. Cheese bought by Domino's.  INTERMEDIATE GOODS THAT ARE NOT INCLUDED IN THE GDP

D. Your purchase of a new iPhone. FINAL GOOD THAT INCREASES PRIVATE CONSUMPTION.

E. New house bought by Bill Gates. FINAL GOOD THAT INCREASES RESIDENTIAL INVESTMENT (AT CONSTRUCTION VALUE, NOT PURCHASE VALUE)

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