U.S. imports are
a. not added to U.S. GDP because they are produced abroad
b. added to U.S. GDP because they are consumed domestically
c. added to U.S. GDP because they represent an increase in inventories
d. added to U.S. GDP as government purchases because the government decides what goods may be imported
e. not added to U.S. GDP because they are intermediate goods
A
You might also like to view...
You wish to buy only one CD. Use the rule of equal marginal utility per dollar to determine which one to purchase:
(a) Drake's latest CD for $15 which gives you 75 units of utility, or (b) Bob Dylan's "Shadows in the Night" for $10 that gives you 100 units of utility?
Supply chain management refers to
A) the contracts put in place to manage a firm's suppliers. B) the decisions around which stages of production to handle internally and which to buy from others. C) how the firm compensates the employees who work on the firm's internal stages of production. D) the 19th century practice of having barges move downstream with the flow of the river.
If the United States increased its budget deficit, and it is at or near full employment, the most likely effect is to crowd
A. in investment and crowd out net exports. B. out investment and crowd in net exports. C. in investment and crowd in net exports. D. out investment and crowd out net exports.
Real GDP and nominal GDP differ because the real GDP:
a. is adjusted for changes in the volume of intermediate transactions. b. includes the economic effects of international trade. c. has been adjusted for changes in the price level. d. excludes depreciation charges.