If GNP Is $600 Billion, Receipts of Factor Income from the Rest

question 113

Multiple Choice

If GNP is $600 billion, receipts of factor income from the rest of the world are $50 billion, and payments of factor income to the rest of the world are $30 billion, then GDP is

• A) $520 billion.
• B) $580 billion.
• C) $620 billion.
• D) $680 billion.

---

Definitions:

Uncertainty

The state of having limited knowledge where it is impossible to exactly describe existing states, future outcomes, or the likelihood of events.

Growth Mindset

A belief or approach that abilities and intelligence can be developed with effort, learning, and persistence.

Fixed Mindset

A belief that one's abilities, intelligence, and talents are fixed traits and cannot be significantly developed.

Angela Lee Duckworth

A psychologist known for her research on grit and perseverance, suggesting that passion and resilience are key factors in personal and professional success beyond IQ and talent.