In Calculating GDP, We Must

Multiple Choice

In calculating GDP, we must

A) add the value of the goods produced outside of Australia by local firms.
B) add the market value of imports and subtract the market value of exports.
C) add the market value of exports and subtract the market value of imports.
D) exclude net exports of goods and services (NX) .
E) subtract the market value of imports, because these goods are produced in a country other than Australia, and subtract the market value of exports, because these goods are consumed in a country other than Australia.