Question

Which of the following statements about imports and exports is correct?

A) the difference between imports and exports is negative when the country is a net exporter
B) before 1976, the U.S. was a net importer. After 1976, exports began to exceed import.
C) Exports must be subtracted out of GDP to obtain the correct figure
D) imports must be subtracted out of GDP to obtain the correct figure

Answer 1

The answer is D. An import in the accepting nation is a fare from the sending nation. Importation and exportation are the characterizing money related exchanges of global exchange. In worldwide exchange, the importation and exportation of merchandise are constrained by import standards and orders from the traditions expert.

Answer 2

I believe the answer is D) imports must be subtracted out of GDP to obtain the correct figure
Gross Domestic Product contained the Gross value of all the goods/services produced by a nation. Since import is bringing the goods/services that produced by other nations, the amount of import must be substracted for GDP calculation while the amount of export must be added.