GDP Includes Output Produced _____, but It Does NOT Include

question 300

Multiple Choice

GDP includes output produced _____, but it does NOT include output produced _____.

• A) outside the United States by U.S. citizens; inside the United States by foreign citizens
• B) outside the United States by U.S. citizens; inside the United States by U.S. citizens
• C) inside the United States by foreign citizens; outside the United States by U.S. citizens
• D) The GDP includes only goods and services produced by U.S. citizens within the United States.

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Definitions:

Real Property

Land and anything permanently attached to it, such as buildings and natural resources.

Fully Executed Contract

A legally binding agreement that has been fully enacted, with all its terms met by all parties involved.

Labelling Theory

The assertion that once labelled as deviant, people come to accept the label as part of their identity.

Deviant

Behavior that violates the norms, values, or expectations of a group or society, which can provoke negative or positive reactions from others.