QUESTION 9 5 points Expenditures on U.S. produced steaks, shoes, and doctor visi
ID: 1166861 • Letter: Q
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QUESTION 9 5 points Expenditures on U.S. produced steaks, shoes, and doctor visits are most lkely classified as O net exports of goods and services O investment. O government expeniture on goods and services. O consumption expenditure. QUESTION 10 5 pointsSa Investment is defined as the purchase of O) additions to inventories only any financial asset onty O new capital goods and additions to inventories O new capital goods but not additions to inventories QUESTION 11 5 points Seve Net exports of goods and services is equal to the value of exports minus the value of imports domestie consumption minus the value of imports minus the value of exports exports plus the value of imports points Save An QUESTION 12 When caloulating GDP purchases of used goods included at the original price minus any depreciation ncluded at the (current) used price not ncluded. included at the original price.Explanation / Answer
9. Option d.
Expenditures on US produced steaks, shoes and doctor visits are most likely classified as consumption expenditure.
They are classified so as they ate the goods and services that are directly used for satisfaction of each individuals needs.
Firms spend expenditures on household goods and are hence called consumption expenditure.
10. Option c.
Investment is defined as the purchase of new capital goods and additions to inventories.
Investment is the purchase of capital, equipment, inventories and structures.
In addition it is also the purchase of new capital goods.
11. Option a.
Net exports are the total value of a country's total exports minus the value of its total imports.
They are used to measure the gross domestic product of an economy.
12. Option c.
When calculating GDP, purchase of used goods are not included.
GDP measures the total value of final goods and services produced within a country in a given time period and no used goods are included in it.
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