When gross domestic product (GDP)is adjusted by adding any income earned abroad by U.S. firms or residents which is sent back to the United States and by subtracting any income earned in the United States by non-U.S. corporations or foreign nationals which is sent back to their home countries, it is called

Question

Quizplus · Accepted Answer

The adjusted GDP described in the question is equivalent to the concept of gross national product (GNP), which measures the total income earned by U.S. residents and businesses, regardless of where it is earned in the world. Therefore, the correct answer is D, gross national product.

When Gross Domestic Product (GDP)is Adjusted by Adding Any Income