Let C = Consumption, I = Private Investment, G =

question 1

Multiple Choice

Let C = consumption, I = private investment, G = government purchases, and X_n = net exports. Which of the following best represents the equation for GDP?

• A) GDP = C+ I + G − X_n
• B) GDP = C + I + G + X_n
• C) GDP = C + I + G + net imports
• D) GDP = C + I + G + tax revenues + X_n

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Definitions:

Fraud

The tort of intentionally or recklessly misleading another person or making statements without belief in their truth.

Independent Agent

An individual or entity contracted to perform tasks or services for another entity while retaining control over their work methods.

Breach

The violation or non-fulfilment of a legal obligation, contract, or duty.

Fiduciary Duty

The responsibility to act in the best interests of another party, such as in financial matters or care, characterized by trust, reliance, and a duty of care.