B. excluded when calculating GDP because they do not reflect current production
A. added to exports when calculating GDP because imports reflect spending by Americans.
B. subtracted from exports when calculating GDP because imports do not constitute spending
by Americans.
C. subtracted from exports when calculating GDP because imports do not constitute
production in the United States.
D. added when calculating GDP because imports do not constitute production in the United
States.
C. subtracted from exports when calculating GDP because imports do not constitute
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Markets can fail to achieve efficiency when
a. there are prices consumers do not think are fair. b. there are wages workers do not think are fair. c. trade puts people out of work. d. there are markets with imperfect competition.
In the short-run macro model, equilibrium occurs when
a. all of the following conditions are satisfied b. the unintended change in inventories is zero c. total sales equals output d. the aggregate expenditure line intersects the 45-degree line e. GDP equals aggregate expenditure