Question: for each of the following transactions indicate whether us gdp...
For each of the following transactions, indicate whether U.S. GDP rises, falls, or remains constant. In addition, indicate which, if any, of the four components of U.S. GDP are affected and the direction in which they change.
a. John buys a painting by Renoir, a 19th century artist.
b. Lisa buys a new BMW, made in Germany.