Unformatted text preview: ng
goods used in producing
other goods; also includes
business inventories Tools, machines,
Expenditures made by federal, state,
and local governments
governments Paper, pens, tanks,
Paper, pens, tanks,
Exports Expenditures made by foreigners for
Expenditures made by foreigners for
American-made goods Cars, wheat,
Imports Expenditures made by
Expenditures made by Americans for
foreign-made goods Cars, radios,
computers They are only close, however; they still
need to adjust for U.S. purchases of foreignproduced goods. For example, if Cynthia in
Detroit purchases a Japanese-made television set for $500, this $500 TV purchase
would not be included in GDP because GDP
is a measure of goods and services produced
annually in a country. Specifically, the U.S.
GDP is a measure of goods and services produce...
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This document was uploaded on 01/16/2014.
- Winter '14