A Texas household receives a Social Security check for $1500, which it uses to purchase a $40 pair of shoes made in Thailand by a Thai firm, a $1240 television made by a Korean firm in Korea, and $220 on groceries from a local store. As a result, U.S. GDP
A) increases by $40.
B) increases by $220.
C) increases by $280.
D) increases by $1500.
Correct Answer:
Verified
Q200: Table 23-1
The following table contains data
Q201: GDP and GNP are identical when
A)exports and
Q202: Table 23-2
The following table contains data
Q203: If net exports is a negative number
Q204: Changes in the GDP deflator reflect
A)only changes
Q206: Real GDP is the yearly production of
Q207: Table 23-2
The following table contains data
Q208: If real GDP doubles and the GDP
Q209: Table 23-3
The following table reports nominal
Q210: If total spending rises from one year
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