In a Static (Accounting) Sense, a Nation's GDP Can Be

question 39

Multiple Choice

In a static (accounting) sense, a nation's GDP can be represented by the following equation: where C = consumption spending, I = investment spending, G = government spending, X = exports of goods and services, and M = imports of goods and services.

• A) GDP = C + I + G + M - X
• B) GDP = C + I + G + X - M
• C) GDP = C + I - G + X - M
• D) GDP = C + I + G + X + M

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Definitions:

Itinerant Seller

A seller who moves from place to place to sell goods or services, often without a fixed retail location.

Fixed Place of Business

A specific location where a company conducts its operations and business activities on a regular basis.

Legislation

Laws that have been enacted by a legislative body, such as a parliament or congress.

Physical Threats

Explicit or implicit actions suggesting the intent to cause bodily harm to another person.