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Identify Which of the Following Goods Are Part of the Current

question 70

Essay

Identify which of the following goods are part of the current year's U.S.GDP and which are considered current year's U.S.GNP;explain.
(a)a Ford produced in Mexico
(b)a Toyota produced in California
(c)a meal you make for a dinner party
(d)an American made vintage T-shirt from LedZeppelin's 1971 North American Tour you bought online last week


Definitions:

Unionized Plants

Factories or workplaces where the employees are represented by a union for collective bargaining with the management.

Labor Market

The supply of available workers in relation to available employment.

Product Market

The marketplace where final goods or services are traded between sellers and consumers.

Financialization

The process by which financial markets, financial institutions, and financial elites gain a greater influence over economic policy and economic outcomes.

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