Which of the following statements is FALSE? A. The GDP of a country equals the value of final output produced within the borders of that country B. The GNP of a country equals the value of final output produced using factors owned by residents of the country. C. GDP = net income received from abroad by residents of a nation + GNP D. GDP represents the most commonly used measure
Which of the following statements is FALSE? A. The GDP of a country equals the value of final output produced within the borders of that country B. The GNP of a country equals the value of final output produced using factors owned by residents of the country. C. GDP = net income received from abroad by residents of a nation + GNP D. GDP represents the most commonly used measure
Chapter11: Gross Domestic Product
Section: Chapter Questions
Problem 4SQP
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Question
Which of the following statements is FALSE?
A. |
The |
|
B. |
The GNP of a country equals the value of final output produced using factors owned by residents of the country. |
|
C. |
GDP = net income received from abroad by residents of a nation + GNP |
|
D. |
GDP represents the most commonly used measure of an economy’s output |
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