In the Equation GDP = C + I + G

question 40

Multiple Choice

In the equation GDP = C + I + G + F, in which F equals net export spending i.e., total spending on exports minus total spending on imports) , imports are subtracted from the other types of expenditures because:

• A) imports reduce national welfare.
• B) other countries do not import goods from the U.S.
• C) the value of imports is included in the other components of spending such as consumption spending.
• D) the value of imports is difficult to determine due to the fact that they are frequently stated in terms of foreign currency.

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Definitions:

Self-Managed Teams

Groups of employees who are given the autonomy to plan, execute, and manage their own work and tasks without traditional managerial supervision.

Clearly Defined Product

A product or service with explicit specifications, features, and benefits, making its purpose and use straightforward to consumers.

Individual Accountability

The responsibility of an individual to account for their activities, accept responsibility for them, and to disclose the results in a transparent manner.

Emotional Intelligence

The capacity to be aware of, control, and express one's emotions, and to handle interpersonal relationships judiciously and empathetically.