A country's gross national product (GNP) is
A) the value of all final goods and services produced by its factors of production and sold on the market in a given time period.
B) the value of all intermediate goods and services produced by its factors of production and sold on the market in a given time period.
C) the value of all final goods produced by its factors of production and sold on the market in a given time period.
D) the value of all final goods and services produced by its factors of production and sold on the market.
E) the value of all final goods and services produced by its factors of production, excluding land, and sold on the market in a given time period.
Correct Answer:
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Q12: Which one of the following statements is
Q13: For most macroeconomists
A) gross national income exceeds
Q14: Which one of the following statements is
Q15: An example of how GNP accounts for
Q16: National income equals GNP
A) less depreciation, less
Q18: In open economies
A) saving and investment are
Q19: Purchases of inventories by
A) firms are not
Q20: GDP is supposed to measure
A) the volume
Q21: Government purchases are defined as
A) only goods
Q22: An open economy
A) can save only by
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