The nominal GDP of the U.S. in 2015 was approximately 17.3 trillion. This means that
A) total income in 2015 was around 17.3 trillion.
B) total spending in 2015 was around 17.3 trillion.
C) the value of output in 2015 was around 17.3 trillion.
D) all of the above are true.
Question 2
Foreign direct investment in the United States declined 42 percent in the first quarter of 2009. This means that
A) people or firms in other countries reduced their building of facilities or purchases of facilities in the United States by 42 percent in the first quarter of 2009.
B) people or firms in the United States reduced their purchases of stocks and bonds in foreign countries by 42 percent in the first quarter of 2009.
C) people or firms in other countries reduced their purchases of stocks and bonds in the United States by 42 percent in the first quarter of 2009.
D) people or firms in the United States reduced their building of facilities or purchases of facilities in foreign countries by 42 percent in the first quarter of 2009.
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