A Texas household receives a Social Security check for $1500, which it uses to purchase a $40 pair of shoes made in Thailand by a Thai firm, a $1240 television made by a Korean firm in Korea, and $220 on groceries from a local store. As a result, U.S. GDP
a. increases by $40.
b. increases by $220.
c. increases by $280.
d. increases by $1500.
b
Economics
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What will be an ideal response?
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a. True b. False Indicate whether the statement is true or false
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