GDP can be calculated by the value-added approach, which
a. is useful in avoiding double counting.
b. includes only the value-added portion from the sale of goods and services.
c. includes the revenue a firm receives from selling a product minus the amount paid for goods purchased from other firms.
d. All of the above correct.
d
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Which of the following statements is true?
a. Foreigners owned $16.30 in U.S. assets b. U.S. residents owned $13.8 trillion in foreign assets c. U.S. residents owned $2.5 trillion more assets in the United States than foreigners owned abroad d. Foreign purchases of assets in the U.S. subtract from America's productive capacity e. Income from foreign-owned assets in the U.S. flows to Americans
The ultimate objective of macroeconomics is to: a. reduce the unemployment rate in an economy
b. stabilize the growth rate in an economy. c. develop and test theories about how the overall economy works. d. improve the international competitiveness of U.S. financial markets. e. maximize the efficiency of government intervention in the marketplace.