Consider the following transactions that occurred during the year: 1. Musashi orders 50 bottles of wine at $30 each from a French distributor. 2. A U.S. company sells 200 textbooks at $45 each to a Canadian company. 3. Sean, a U.S. citizen, buys a $1,500 laptop from Microell, a U.S. company. Complete the table below, indicating how these transactions affect the U.S. national accounts for the current year. Enter "0" if a transaction does not apply to a category and a negative sign for a negative balance. Amount (Dollars) -------------------------------------- Consumption: $1,500 Investment: $0 Government Purchases: $0 Imports: -$1,500 Exports: $9,000 Net Exports: $7,500 Gross Domestic Product (GDP): $10,500 Note: The GDP is calculated as the total value of goods and services produced within a country's borders, which includes Consumption, Investment, Government Purchases, and Net Exports (Exports minus Imports). The purchase from a U.S. company is included in Consumption, while the wine order represents Imports, and the textbooks sold to Canada represent Exports. Net Exports are calculated as Exports minus Imports.

To complete the table, we need to identify which transactions affect the various components of the U.S. national accounts. In the U.S. national accounts, Gross Domestic Product (GDP) is calculated as the sum of Consumption, Investment, Government Purchases, and Net Exports (which is the difference between Exports and Imports). Let's tackle each transaction:

1. Musashi orders 50 bottles of wine from a French distributor at a price of $30 per bottle. - This is an import transaction; thus, it will increase the Imports category. - Musashi is assumed to be a private consumer, so this would count toward Consumption. - Therefore, Musashi's purchase of wine from abroad for personal consumption does not contribute to the U.S. GDP. - The balance of imports will increase by 50 * $30 = $1,500.

2. A U.S. company sells 200 textbooks to a Canadian company at $45.00 per textbook. - This is an export transaction; it will increase the Exports category. - The sale of textbooks does not count as Consumption or Investment within the U.S. economy as it is a transaction happening outside the domestic borders for business purposes. - This transaction does contribute to the U.S. GDP. - The balance of exports will increase by 200 * $45 = $9,000.

3. Sean, a U.S. citizen, pays $1,500 for a laptop he orders from Microell (a U.S. company). - Since both the buyer (Sean) and the seller (Microell) are in the U.S., this is a domestic transaction. - It will increase the Consumption category, as it is a personal purchase. - This transaction does contribute to the U.S. GDP. - It doesn't affect Imports or Exports since both parties are within the U.S.

Now we can fill out the table:

- Consumption: $1,500 (wine) + $1,500 (laptop) = $3,000 - Investment: $0 (none of these transactions are considered investments) - Government Purchases: $0 (there are no government transactions mentioned) - Imports: $1,500 (the value of the wine purchase) - Exports: $9,000 (the value of the textbooks sold to Canada) - Net Exports: Exports - Imports = $9,000 - $1,500 = $7,500 - Gross Domestic Product (GDP): We calculate this by adding Consumption, Investment, Government Purchases, and Net Exports (since we don't have information on government purchases or investment in these transactions, they are presumed 0): $3,000 (Consumption) + $0 (Investment) + $0 (Government Purchases) + $7,500 (Net Exports) = $10,500

We will assume that no other transactions affect these categories, so the table would be filled out as:

Amount (Dollars) - Consumption: $3,000 - Investment: $0 - Government Purchases: $0 - Imports: $1,500 - Exports: $9,000 - Net Exports: $7,500 - Gross Domestic Product (GDP): $10,500