An Open Economy's GDP Is Always Given by

question 90

Multiple Choice

An open economy's GDP is always given by

• A)Y = C + I + G.
• B)Y = C + I + G + T.
• C)Y = C + I + G + S.
• D)Y = C + I + G + NX.

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Definitions:

Accounts Receivable

Money owed to a business by its clients or customers for goods or services delivered but not yet paid for.

Accounts Receivable Turnover

A financial ratio that measures how effectively a company collects on its credit sales.

Credit Policy

The guidelines a company follows to determine the amount and terms of credit to extend to customers.

Net Sales

The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods, and discounts.