If someone in the United States buys a surfboard produced in Australia,that purchase is included in both the consumption component of U.S.GDP and the import component of U.S.GDP.

Question

Quizplus · Accepted Answer

This is true because the purchase of the surfboard is considered a part of the consumption component of U.S. GDP, as it represents a final good or service purchased by U.S. consumers. Additionally, because the surfboard was produced in Australia and imported into the U.S., it is also counted as a part of the import component of U.S. GDP.

If Someone in the United States Buys a Surfboard Produced