In an open economy, trade is allowed between countries. Assume a consumer purchases $1,000 worth of furniture manufactur

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

In an open economy, trade is allowed between countries. Assume a consumer purchases $1,000 worth of furniture manufactur

Post by answerhappygod »

In an open economy, trade is allowed between countries. Assume a
consumer purchases $1,000 worth of furniture manufactured in China.
Answer the following:
a. Which component(s) of GDP are impacted by this purchase?
b. Does GDP increase, decrease or stay the same? Briefly
explain.
c. Does your answer change if the company in China is a U.S.
owned company? Why?
**** Please do not copy from already provided answers in this
platform as I already check them and not what I am looking for.
Thank you!
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top
Post Reply

Return to “Archived Questions & Answers”