GDP is often stated as a measure of national expenditures in the US. The major accounting components of GDP = Consumption + Investment + Government Spending + Exports - Imports (often written GDP = C + I + G + X - M). There are some people who hold public office that interpret this to mean that imports (M) reduce real GDP and should be avoided or minimized in the calculation. True or False?
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False Imports are deducted because the other spending components like C, I, G, and even X all have import... View the full answer