GDP is a better indicator of economic growth and welfare than GNP because a. indicates income from goods/services that are available in the country. b. the entrepreneurs' effort of combination of other factors of production are included. c. it is always larger than the GNP and includes government services. d. all factor of production's income are accounted for.

GDP is a better indicator of economic growth and welfare than GNP because a. indicates income from goods/services that are available in the country. b. the entrepreneurs' effort of combination of other factors of production are included. c. it is always larger than the GNP and includes government services. d. all factor of production's income are accounted for.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter19: Measuring Economic Performance

Section: Chapter Questions

Problem 9P

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