Which of the following statements is true of national production?
A) Marketers use GDP or GNP figures to determine whether a country's population is wealthy enough to purchase its products.
B) Per capita numbers provide a detailed picture of development of the entire country.
C) Gross product figures accurately indicate whether a nation's economy is growing or shrinking.
D) Volunteer work and unpaid household work are considered in GDP and GNP.

Question

Quizplus · Accepted Answer

Marketers use GDP or GNP figures to determine whether a country's population is wealthy enough to purchase its products. Per capita numbers provide a detailed picture of development of the entire country. Gross product figures do not accurately indicate whether a nation's economy is growing or shrinking as it does not factor in inflation. Volunteer work and unpaid household work are not considered in GDP and GNP.

Which of the Following Statements Is True of National Production