Under the expenditure categories to measure GDP, Why are (exports minus imports) included instead of just exports? Select one: O a. GDP is a measure of all final goods and services purchased by American citizens around the world. O b. The imports include goods that were produced with intermediate goods made by American firms. O C. The values of C, I and G include spending on all final goods and services, including imports, and these imports must be subtracted out. d. The government wants to ignore income that Americans spend on foreign-made products.
Under the expenditure categories to measure GDP, Why are (exports minus imports) included instead of just exports? Select one: O a. GDP is a measure of all final goods and services purchased by American citizens around the world. O b. The imports include goods that were produced with intermediate goods made by American firms. O C. The values of C, I and G include spending on all final goods and services, including imports, and these imports must be subtracted out. d. The government wants to ignore income that Americans spend on foreign-made products.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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