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Exhibit: Output and Income Data for the Economy of Argonia

-(Exhibit: Output and Income Data for the Economy of Argonia) What is the value of Argonia's gross national product?
A) $900 billion
B) $1,000 billion
C) $1,100 billion
D) $1,200 billion

Question

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Exhibit: Output and Income Data for the Economy of Argonia
 
-(Exhibit: Output and Income Data for the Economy of Argonia) What is the value of Argonia's gross national product?
A) $900 billion 
B) $1,000 billion 
C) $1,100 billion 
D) $1,200 billion

Quizplus · Accepted Answer

The value of Argonia's gross national product can be found by adding up the total value of all goods and services produced by the country's residents and businesses. As shown in the exhibit, the gross domestic product is $1,050 billion and the net factor income from abroad is $50 billion, which gives a gross national product of $1,100 billion.

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