To Get a Complete Measure of the Total Spending on U.S.-Produced

question 104

Multiple Choice

To get a complete measure of the total spending on U.S.-produced final goods and services, one must adjust aggregate demand by

• A)adding imports and subtracting exports.
• B)adding imports that are purchased by U.S.consumers.
• C)adding exports and subtracting imports.
• D)subtracting exports sold to foreigners.

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Definitions:

Shrinkwrap Packaging

A method of packaging where a product is covered with a clear, tight-fitting plastic cover, often used for software boxes and other packaged goods.

Limitation of Remedies Clause

A contract provision that restricts the types of remedies available to the parties in case of breach, often to mitigate liability.

Unconscionable

Actions or conditions that are shockingly unfair or unjust; often referring to terms in contracts that are so one-sided that they are oppressive or unfairly penalize one party.

Privity of Contract

A legal concept that restricts the rights or duties arising under a contract to the parties who agreed to it.