Suppose Chevrolet produced 90,000 Camaros in the United States in 2012 and during 2012 sold 69,000 to U.S. customers and exported 14,000 to foreign buyers. The remaining Camaros were sold to U.S. customers in 2012
How many of these Camaros would count as a part of U.S. GDP in 2012? A) 69,000
B) 76,000
C) 83,000
D) 90,000
D
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In which case would the quantity of money demanded by the public tend to increase by the greatest amount?
A. The interest rate decreases and nominal GDP increases. B. The interest rate decreases and nominal GDP decreases. C. The interest rate increases and nominal GDP decreases. D. The interest rate increases and nominal GDP increases.
Which of the following will not cause a short-run shift in the supply curve?
A) a change in the number of sellers B) a change in the cost of resources C) a change in the price of the product D) a change in future expectations
The long-run industry supply curve in a decreasing-cost, perfectly competitive industry is
A) negatively sloped. B) perfectly elastic. C) positively sloped. D) perfectly inelastic.
Market power and externalities are examples of market failures
a. True b. False Indicate whether the statement is true or false