In calculating GDP, we must
A) add the value of the goods produced outside of Australia by local firms.
B) add the market value of imports and subtract the market value of exports.
C) add the market value of exports and subtract the market value of imports.
D) exclude net exports of goods and services (NX) .
E) subtract the market value of imports, because these goods are produced in a country other than Australia, and subtract the market value of exports, because these goods are consumed in a country other than Australia.
Correct Answer:
Verified
Q2: Net exports of goods and services are
Q3: If last year net exports of goods
Q4: A restaurant buys fish to offer as
Q5: In measuring GDP, which of the following
Q6: Which of the following is a final
Q7: How are final goods and services valued
Q8: Government expenditures on goods and services include
i.
Q9: Which of the following is included in
Q10: Which of the following is NOT directly
Q11: When measuring GDP,
A) only the federal government's
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