I want some assistance with the given problem:
Calculate the totals change in a year's GDP for each of the following scenarios:
Remember old output is not calculated int he GDP only new output.
1) You win $25,000 in your state's lottery. Ever the entrepreneur, you decide to open a Ping Pong ball washing service, buying $15,000 worth of equipment from SpiffyBall Ltd. of Hong Kong and $10,000 from Ball-B-Kleen of Toledo, Ohio.
2) On March 31, you decide to stop throwing away $50 a month on convenience store nachos. You buy $200 worth of equipment, corn meal, and cheese and make your own nachos for the rest of the year.