When would an economist focus on GNP rather than GDP?
A) When the economist wants more accurate measure of production, since GNP data are typically much more precise than GDP data.
B) When the economist wants to study consumption, since consumption expenditures are weighted more heavily in GNP than in GDP.
C) When the economist wants to measure total income earned by residents of a country.
D) When the economist wants a measure that includes depreciation, because GDP omits depreciation in its calculations.
Correct Answer:
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