Net factor income from abroad is defined as:
A) the difference between foreign GDP and U.S. GDP.
B) the difference between what foreign firms pay U.S. factors of production hired to produce foreign GDP and what U.S. firms pay foreign factors of production hired to produce U.S. GDP.
C) taxes paid on income earned outside the country.
D) the difference between foreign national income and U.S. national income.
Correct Answer:
Verified
Q2: In national accounts data, which is the
Q3: The term net unilateral transfers refers to:
A)
Q4: Asset exports occur when domestic entities:
A) save
Q5: Gross national expenditure in a closed economy
Q6: Income paid to factors is called:
A) national
Q8: When calculating GDP in an open economy,
Q9: In a closed economy, income generated from
Q10: In a closed economy in which no
Q11: In an open economy, GNI is equal
Q12: Summaries of international flows of goods and
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