U.S. GDP and U.S. GNP are related as follows:
a. GNP = GDP - Income earned by foreigners in the U.S. + Income earned by U.S. citizens abroad.
b. GNP = GDP + Income earned by foreigners in the U.S. - Income earned by U.S. citizens abroad.
c. GNP = GDP + Value of exported goods - Value of imported goods.
d. GNP = GDP - Value of exported goods + Value of imported goods.
A
Economics
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Use the above table. We can infer from the table that when real disposable income is $175
A) APC = 0.80. B) APC = 0.09. C) APC = 0.91. D) APC = 0.20.
Economics
A model is defined as a:
a. description of all variables affecting a situation. b. positive analysis of all variables affecting an event. c. simplified description of reality to understand and predict an economic event. d. prediction based on historical evidence.
Economics