U.S. Exports Are

question 203

Multiple Choice

U.S. exports are

• A) not included in U.S. GDP because they are consumed abroad
• B) included in U.S. GDP because they are produced domestically
• C) included in U.S. GDP because they represent an increase in inventories
• D) included in U.S. GDP as government purchases because the government decides what goods may be exported
• E) not included in U.S. GDP because they are not subject to a tariff

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Definitions:

National Labor Union

An early US labor federation, founded in 1866, that aimed to organize workers across different trades to advocate for labor reforms like an eight-hour workday.

Textile Industry

A sector of the economy devoted to the production of yarn, cloth, and clothing, and its various processes.

Shoemakers' Industry

A sector focused on the production and repair of shoes, which historically involved skilled craftsmanship and has evolved with industrialization and globalization.

Economic Depression

A long-term downturn in economic activity characterized by high unemployment, scarce credit, reduced output and investment, and deflation.