Briefly explain which of the following statement is correct.
a. The iPhone is made in China, using Chinese-made parts.
b. The iPhone is made in the United States, using U.S. made parts.
c. The iPhone is made in the United States, using Chinese made parts.
d. The iPhone is made China, using parts that are all made outside China.
What relevance does your answer have to how the Bureau of Economic Analysis calculates data on U.S. imports?