Which of the Following Would Be Included in U

question 138

Multiple Choice

Which of the following would be included in U.S.GNP?

• A) The purchase of stocks and bonds by a retiree living in Florida.
• B) Wages earned by a Canadian teaching at an American university.
• C) Cars produced in a Honda (a Japanese Company)plant in Marysville,Ohio.
• D) Cars produced in a Ford plant located in Canada.

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Definitions:

Basic Economic Questions

Fundamental questions every economy must answer regarding what to produce, how to produce it, and for whom it is produced.

Economic Growth

An increase in the amount of goods and services produced per head of the population over a period of time, reflecting a growing economy.

Outward Shift

In economics, refers to the movement of a curve away from the origin on a graph, typically illustrating growth or increase in factors like production possibility frontier or supply curve.

Technology

The application of scientific knowledge for practical purposes, especially in industry and the development of new products or processes.