Which of the following statements is FALSE? The GDP of a country equals the value of final output produced within the borders of that country The GNP of a country equals the value of final output produced using factors owned by residents of the country GDP = net income received from abroad by residents of a nation + GNP GDP represents the most commonly used measure of an economy's output
Which of the following statements is FALSE? The GDP of a country equals the value of final output produced within the borders of that country The GNP of a country equals the value of final output produced using factors owned by residents of the country GDP = net income received from abroad by residents of a nation + GNP GDP represents the most commonly used measure of an economy's output
Survey of Economics (MindTap Course List)
9th Edition
ISBN:9781305260948
Author:Irvin B. Tucker
Publisher:Irvin B. Tucker
Chapter11: Gross Domestic Product
Section: Chapter Questions
Problem 13SQ
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