Simon Kuznets,winner of the 1971 Nobel Prize in economics,is famous for his contributions in
A)changing the United States from gross national product to gross domestic product accounting.
B)explaining the importance of international trade in determining output.
C)pointing out the superiority of the expenditure approach to measuring GDP.
D)developing the basic concepts and measurement procedures used in national income accounting.

Question

Quizplus · Accepted Answer

Simon Kuznets is primarily known for his work in developing the basic concepts and measurement procedures used in national income accounting. He is credited with creating the framework for GDP accounting and developing the concept of net national product.

Simon Kuznets,winner of the 1971 Nobel Prize in Economics,is Famous