If GDP is less than GNP,we know with certainty that
A)a budget deficit exists.
B)a trade surplus exists.
C)a trade deficit exists.
D)none of the above

Question

Quizplus · Accepted Answer

GDP being less than GNP indicates that the income earned by the country's residents from abroad is greater than the income earned by foreigners within the country. This does not directly imply a budget deficit, trade surplus, or trade deficit.

If GDP Is Less Than GNP,we Know with Certainty That