4th and 5th Dings dnd machines. Albert\'s purchase is in GDP. QUESTION 4 Susan b

Question

4th and 5th

Dings dnd machines. Albert's purchase is in GDP. QUESTION 4 Susan buys a bottle of French wine for $200. Because the wine was produced in France rather than in the United States, Susan's purchase is NOT INCLUDED in the GDP of the United States Paradoxically, however, sans purchase enter the GDP accounts twice but the two entries cancel each other out. When Susan purchased the wine, the category increased by $200, but- because the wine was import , the 4 category fell by $200. QUESTIONS # inthe GDP Steve exports a new Dodge minivan to Australia for $42,000. That $42,000 payment is of the United States.

Explanation / Answer

Ans:

4)

a) consumption spending

b) exports

5) exports

GDP is the market value of final goods and services produced by a country during a specific period.GDP = consumption spending + government spending + investment + (exports - imports)

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