Which of the Following Would Be Included in U

question 32

Multiple Choice

Which of the following would be included in U.S.GNP but not in U.S.GDP?

• A)The tips received by a waiter in New Jersey.
• B)Auto parts produced by a Japanese-owned firm operating in North Carolina.
• C)Sales of used cars in the United States.
• D)Chipsets produced by U.S.-owned firms operating in China.

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Definitions:

Oil

A viscous liquid derived from petroleum, used as fuel and in the manufacture of various goods.

Natural Gas

An energy-producing fossil fuel that predominantly contains methane, utilized for heating, cooking, and generating electricity.

Net Energy Ratio

A metric that compares the amount of energy produced to the amount of energy used to produce it.

Natural Gas

A fossil fuel composed primarily of methane, used for heating, electricity generation, and as a fuel for vehicles.