Gross Domestic Product can be described as

Question

Quizplus · Accepted Answer

GDP measures the total value of goods and services produced within a country's borders, regardless of whether the producers are foreign or domestic. GNP, on the other hand, includes income earned by Canadian factors abroad and excludes income earned by foreign factors in Canada. Therefore, C is the correct option as it adds the income of foreign factors in Canada to GDP and subtracts the income of Canadian factors abroad to arrive at GNP.

Gross Domestic Product Can Be Described as