Goods and Services Produced in the United States and Sold

question 72

Multiple Choice

Goods and services produced in the United States and sold in other countries are called

• A) consumption goods and services.
• B) capital goods.
• C) government goods and services.
• D) export goods and services.
• E) import goods and services.

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Definitions:

Income

Income earned, particularly in a consistent manner, from employment or investment returns.

Price

The amount of money expected, required, or given in payment for something.

Commodity X

A placeholder name for a generic commodity or product in economic models or discussions.

Commodity Y

A generic placeholder term used to refer to any tradable item that satisfies wants or needs, but without specifying the item.