Which of the following statements is FALSE? A.The GDP of a country equals the value of final output produced within the borders of that country B.The GNP of a country equals the value of final output produced using factors owned by residents of the country. C.GDP = net income received from abroad by residents of a nation + GNP D.GDP represents the most commonly used measure of an economy’s output

Here, some statements about gross domestic product (GDP) and gross national product (GNP) are given.…

Answered: Which of the following statements is…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Which of the following statements is FALSE?

	A.	The GDP of a country equals the value of final output produced within the borders of that country
	B.	The GNP of a country equals the value of final output produced using factors owned by residents of the country.
	C.	GDP = net income received from abroad by residents of a nation + GNP
	D.	GDP represents the most commonly used measure of an economy’s output

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