Real GDP is O national income plus exports O national income minus exports O GDP divided by the countryâ s population O Nominal GDP adjusted for inflation or deflation In measuring GDP, construction structures are counted O go unaccounted for O are counted in the year the construction permit is granted O are counted the year they were completed are counted twice A coal company sells coal to a steel company for $1000. The steel company uses coal to produce steel, which sells for $2000. Taken together, these two transactions contribute O $1000 to GDP. O $2000 to GDP. between $2000 and $3000 to GDP, depending on the profit earned by the bicycle company when it sold the bicycle. O $3000 to GDP.
Real GDP is O national income plus exports O national income minus exports O GDP divided by the countryâ s population O Nominal GDP adjusted for inflation or deflation In measuring GDP, construction structures are counted O go unaccounted for O are counted in the year the construction permit is granted O are counted the year they were completed are counted twice A coal company sells coal to a steel company for $1000. The steel company uses coal to produce steel, which sells for $2000. Taken together, these two transactions contribute O $1000 to GDP. O $2000 to GDP. between $2000 and $3000 to GDP, depending on the profit earned by the bicycle company when it sold the bicycle. O $3000 to GDP.
Chapter6: Tracking The U.s. Economy
Section: Chapter Questions
Problem 1.1P
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