________ is the market value of production generated by the factors of production possessed or owned by the residents of a particular nation
A) Gross domestic product B) Total Market Value
C) Gross National Product D) Net domestic product
C
Economics
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On average professors of finance earn more than professors of economics. Other things the same, what does this imply about the supply of each type of professor?
Economics
When constructing a production possibilities frontier, which of the following assumptions is not made?
a. The economy produces only two goods or two types of goods.
b. Firms produce goods using factors of production.
c. The technology available to firms is given.
d. The quantities of the factors of production that are available are increasing over the relevant time period.
Economics