Question: 1. Which of the following transactions would enter GNP? Why?
a. Joel Smith buys a stamp from the Post Office.
b. Joe L. Smith buys a birthday present to be given to Joel.
c. Jo Lee Smith buys paper to use in her computer programming firm.
d. Jim Smith pays for a motel room while on vacation.
e. Jack Smith buys a Victorian house.
f. John Smith pays his electric bill.