Which of the following statements about gross domestic product (GDP)and gross national income (GNI)is true?
A)GDP income measures can give the impression that people in less-developed nations have more income than they really do.
B)GDP includes foreign income earned in a country,but GNI does not.
C)Both GDP and GNI are widely used measures of national income.
D)GDP and GNI are highest in the more developed industrial nations.
E)All these answers are correct.

Question

Quizplus · Accepted Answer

Two widely used measures of national income are GDP and GNI.GNI does not include income earned by foreigners,but GDP does include foreign income.Using GDP income measures can give the impression that people in less-developed countries have more income than they really do.Both GDP and GNI are highest in more developed industrial nations.

Which of the Following Statements About Gross Domestic Product (GDP)and