In Calculating GDP, We Must

question 103

Multiple Choice

In calculating GDP, we must

• A)add the market value of imports and subtract the market value of exports.
• B)add the market value of exports and subtract the market value of imports.
• C)exclude net exports of goods and services (NX).
• D)subtract the market value of imports, because these goods are produced in a country other than the United States, and subtract the market value of exports, because these goods are consumed in a country other than the United States.
• E)add the value of the goods produced outside of the United States by American firms.

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Definitions:

Conformity

The act of adjusting one's behavior or thinking to align with the group norms or expectations, often as a result of real or imagined group pressure.

Collectivism

A cultural value that prioritizes the group's needs over individual desires or accomplishments, often associated with societies that emphasize social harmony and interdependence.

Mood Linkage

Mood linkage refers to the phenomenon where individuals in a social environment tend to share or synchronize their emotional states with others, often subconsciously.

Individualism

A moral, political, or social outlook that emphasizes the moral worth of the individual and the importance of individual self-reliance and independence.