Exports Are Subtracted from Imports in Calculating U

question 174

True/False

Exports are subtracted from imports in calculating U.S. GDP because exports are not available for
domestic consumption.

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Definitions:

Interest Income

Earnings received from deposit accounts like savings or money market accounts, certificates of deposit, or income from bonds and loans made to others, calculated as a percentage of the principal amount.

Laissez-Faire

An economic philosophy of free-market capitalism that opposes government intervention.

Socialist

A person who advocates for or supports the political and economic theory of socialism, which emphasizes public or community ownership and administration of the means of production and distribution of goods.

Utopian

Relating to an imagined perfect society where everything is ideal, often used to describe unrealistic or idealized concepts for societal organization.