Spending on imports should get GDP and spending on exports should be subtracted from included

Spending on imports should get GDP and spending on exports should be subtracted from included

Spending on imports should get _________ GDP, and spending on exports should be __________.

A. subtracted from; included

B. included in; included as well

C. subtracted from; subtracted as well

D. included in; subtracted

82.Net exports is calculated by:

A. adding total exports and total imports together.

B. subtracting total exports from total imports.

C. subtracting total imports from total exports.

D. None of these is correct.

83.The value of net exports is:

A. exports minus imports.

B. imports minus exports.

C. exports plus imports.

D. (exports plus imports) minus tariffs.

84.U.S. exports are:

A. U.S. goods sold to foreigners.

B. Foreign goods bought by Americans.

C. U.S. goods sold to Americans.

D. Foreign and U.S. goods sold to foreigners, but consumed in the U.S.

85.U.S. imports are:

A. U.S. goods sold to foreigners.

B. Foreign goods bought by Americans.

C. U.S. goods sold to Americans.

D. Foreign and U.S. goods sold to foreigners, but consumed in the U.S.

86.An example of a U.S. export would be:

A. a French bottle of wine consumed by an American.

B. an Apple computer purchased by a U.S. college student who plans to study abroad in France.

C. a bushel of apples that Canadians pick and enjoy on a lovely fall day in Vermont.

D. None of these would be considered an export.

87.An example of a U.S. import would be:

A. a French bottle of wine consumed by an American.

B. an Apple computer purchased by a U.S. college student who plans to study abroad in France.

C. a bushel of apples that Canadians pick and enjoy during a love fall day in Vermont.

D. None of these would be considered an import.

88.Net exports will be negative if:

A. imports exceed exports.

B. exports exceed imports.

C. it is a closed economy.

D. it is an open economy.

89.The four components that make up GDP are:

A. C, I, G, and NX.

B. C, I, G, and EX.

C. K, I, G, and NX.

D. C, I_m, G, and EX.

90.The largest component of GDP is:

A. C.

B. I.

C. G.

D. NX.