Ford Motor Company produces $10 milion in automobiles in the US and sells them to customers in China. In which category of GDP will the automobiles count?
Question 2
2.
Lockheed produces 45 jets in the US and sells them to the US government. In which category of GDP will the jets count?
Question 3
3.
The US company, Bob's Candy, produced $25 million worth of peppermint in Mexico this year.
Which of the following statements is TRUE about peppermint?
Question 4
4.
Real Gross Domestic Product is used to measure the economic goal of
Question 5
5.
The peppermint counts counts a consumer spending in US GDP.
Select the THREE TRUE statements from the list below. They must ALL be correct to get points for the question.
The payment of a Social Security benefit to a retiree counts in the government spending portion of GDP.
The US has a target GDP growth rate of 2-3% per year.
A consumer paying for a new car produced in the US would count in the consumer spending portion of GDP.
A stay-at-home mom adds about $80,000 per year to the investment spending portion of GDP.
Imports count positively toward GDP.
The "real" in real GDP means that prices are held constant in the measurement.