Profits earned in the United States by a foreign-owned firm would be included in
a. gross domestic product and gross national product.
b. gross national product but not in gross domestic product.
c. gross domestic product but not in gross national product.
d. neither gross domestic product nor gross national product.
C
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Refer to Figure 4-4. What is the value of the deadweight loss at the equilibrium price of $15?
A) $0 B) $40 C) $60 D) $100
Over the next few years, several newly constructed office blocks will become available at the World Trade Center site. As well, economists expect the New York economy will continue to exhibit modest growth
What is the expected outcome for the office space market in downtown Manhattan? A) Unambiguously higher equilibrium rental rates and quantity B) Unambiguously lower equilibrium rental rates and quantity C) Unambiguously higher rental rates, and equilibrium quantity could be higher or lower D) Unambiguously higher equilibrium quantity, and equilibrium rental rates could be higher or lower