Which of the Following Is NOT Included in U

question 131

Multiple Choice

Which of the following is NOT included in U.S.GDP?

• A) The construction of new homes to replace those destroyed by fires in California.
• B) The salary of the President of the United States.
• C) Shoes produced abroad and imported by a U.S.company.
• D) The purchase of U.

---

Definitions:

Price Level

Indicates the overall level of prices for goods and services in an economy at a specific point in time, reflecting the economy's cost of living.

Aggregate Demand

Aggregate demand for products and services within an economy at a certain uniform price point during a specified period.

Federal Budget Deficit

The financial situation when a government's expenditures exceed its revenues within a fiscal year, leading to borrowing or debt accumulation.

Inflation

The rate at which the general level of prices for goods and services is rising, leading to a decrease in the purchasing power of money.