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After reading Chapter Seven in the textbook, make sure to read the course documents about it (my class notes) within the "Modules" button in Canvas, especially the document titled "Two Approaches to Measuring GDP". Then, by 11:59 p.m. on Friday, August 4, post your three paragraph answer on the "Reply" line (below) to the following question: What is an example of (just) one thing that could happen in the state of Washington in the next six months, which would increase the "Personal Consumption" component of Gross Domestic Product (G.D.P.) of the United States during this calendar year (2023)?

Before posting your answer, make sure to read what other students have posted, to make sure that your example is different than theirs. To earn the most points, your first paragraph should discuss how the dollar value of (just) one of the components of the "Expenditures Approach" would increase as a result of your purchase example. And you should also make sure to describe one specific locationin the state of Washington where this purchase could occur.

Then - in at least two more paragraphs - discuss how and demonstrate your own understanding of the main differences between using the Expenditures Approach and the Resource-Cost IncomeApproach to measure G.D.P., as these concepts relate to the specific example that you have chosen to discuss. And you should also explain the differences between Durable Goods, Non-Durable Goods, and Services within your paragraphs, as these terms are described within the Canvas document. Also, make sure your postings don't have any spelling errors in them (words that are underlined in red within Canvas by the auto-spell checker).

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