Homework due at the start of class 4-12. There will be a short quiz that day....

 

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Homework due at the start of class 4-12. There will be a short quiz that day. 13) The owner of an oil well in Texas sells 500 barrels of oil to a refinery in Mexico for $10,000. This transaction 13) A) will increase Gross Domestic Product (GDP) by $10,000. B) has no effect on Gross Domestic Product (GDP) because this is the sale of an intermediate product. C) has no effect on Gross Domestic Product (GDP) because the refinery is in Mexico. D) decreases Gross Domestic Product (GDP) because oil reserves have fallen by 500 barrels. Consumption expenditures on goods and services Total government spending on goods and services Grossprivate domestic investment Imports Exports Depreciation (capital consumption allowance) Net U.S. income earned abroad Government spending Social Security contributions Corporatetxes 14) According to the above table, Gross Domestic Product (GDP) is A) $2,465. B) $2,840. C) $2,190. D) $2,750. Personal income taxes Rent Wages Consumption expenditures Gross Private Domestic Investment 50 20 5 8 54 $1,500 590 365 50 231 250 40 70 200 -75 Indirect business tes Imports Exports Interest 14) Depreciation Government transfer payments 15) Using the above table, the Gross Domestic Product (GDP) for the country is 15). A) 84. B) 338. C) 746. D) 662. 25 10 6 3 5 10 5 Homework due at the start of class 4-12. There will be a short quiz that day. 13) The owner of an oil well in Texas sells 500 barrels of oil to a refinery in Mexico for $10,000. This transaction 13) A) will increase Gross Domestic Product (GDP) by $10,000. B) has no effect on Gross Domestic Product (GDP) because this is the sale of an intermediate product. C) has no effect on Gross Domestic Product (GDP) because the refinery is in Mexico. D) decreases Gross Domestic Product (GDP) because oil reserves have fallen by 500 barrels. Consumption expenditures on goods and services Total government spending on goods and services Grossprivate domestic investment Imports Exports Depreciation (capital consumption allowance) Net U.S. income earned abroad Government spending Social Security contributions Corporatetxes 14) According to the above table, Gross Domestic Product (GDP) is A) $2,465. B) $2,840. C) $2,190. D) $2,750. Personal income taxes Rent Wages Consumption expenditures Gross Private Domestic Investment 50 20 5 8 54 $1,500 590 365 50 231 250 40 70 200 -75 Indirect business tes Imports Exports Interest 14) Depreciation Government transfer payments 15) Using the above table, the Gross Domestic Product (GDP) for the country is 15). A) 84. B) 338. C) 746. D) 662. 25 10 6 3 5 10 5

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Question 13 The owner of an oil well in Texas sells 500 barrels of oil to a refinery in Mexico for 1... View the full answer