In Calculating GDP, We Must

question 8

Multiple Choice

In calculating GDP, we must

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

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Definitions:

Static Variables

Variables that retain their value between function calls and are scope-limited to the function, block, or file where they are declared.

Register

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Processing Unit

A component in a computer that interprets and executes instructions; often referred to as the central processing unit (CPU).