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Essentials of Economics 7th Edition by Gregory Mankiw
Edition 7ISBN: 978-1285165950Essentials of Economics 7th Edition by Gregory Mankiw
Edition 7ISBN: 978-1285165950 Exercise 1
An American buys a pair of shoes manufactured in Italy. How do the U.S. national income accounts treat the transaction?
A) Net exports and GDP both rise.
B) Net exports and GDP both fall.
C) Net exports fall, while GDP is unchanged.
D) Net exports are unchanged, while GDP rises.
A) Net exports and GDP both rise.
B) Net exports and GDP both fall.
C) Net exports fall, while GDP is unchanged.
D) Net exports are unchanged, while GDP rises.
Explanation
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Verified
GDP is the sum of consumption, investmen...
Essentials of Economics 7th Edition by Gregory Mankiw
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