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State the following statement is True or False, and explain why. Thor who lives
State the following statement is True or False, and explain why. Thor who lives in Montana purchased a car produced in Japan for $30,000. His purchase decreased GDP by $30,000.
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fatimalandau54
5,0(35 marks)
false
His purchase left GDP unchanged
Consumption of non durables would increase.
Also, net export would decrease.
these effects would cancel out
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports – imports
jordan5778
5,0(21 marks)
Government and voters
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