When We Calculate GDP,imports Are

question 71

Multiple Choice

When we calculate GDP,imports are

• A)Subtracted from total spending because they are part of another country's GDP.
• B)Added to exports because both represent purchases of final goods.
• C)Subtracted from exports to obtain gross exports.
• D)Subtracted from exports and included in gross investment.

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Definitions:

Level of Significance

A threshold in statistical analysis that measures the probability of rejecting a true null hypothesis; commonly set at values like 0.05 or 0.01.

Headaches

A common physical ailment characterized by pain in any region of the head, varying greatly in intensity, pattern, and cause.

Null Hypothesis

A default hypothesis that there is no significant difference or effect, typically to be tested against an alternative hypothesis.

Employment Status

Refers to an individual's current work situation, which can be categorized into employed, unemployed, or out of the labor force.