Question

In: Economics

9a)A Japanese automaker manufactures cars in the United States. If these cars are sold to U.S....

9a)A Japanese automaker manufactures cars in the United States. If these cars are sold to U.S. consumers, they will be counted in which of the following?

Japan’s gross domestic product (GDP)
U.S. gross national product (GNP)
U.S. consumption
All the above statements could be correct

b)Which of the following is a nondurable consumption good?

Gasoline
Appliances
Automobiles
Furniture

c)The expenditure approach to computing GDP involves summing which of the following?

The values added of each intermediate good used in the production of a final good
The value of intermediate plus final goods and services
Consumption, investment, government purchases, and net exports
Wages, salaries, interest income, rent, and profit

d)

Which of the following components of GDP is largest for the U.S. economy?
Net exports
Consumption
investment
Government purchases

Solutions

Expert Solution

Rahul Sunny answered 1 year ago
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