Econoland and Macroland Are Neighboring Countries

question 249

Multiple Choice

Econoland and Macroland are neighboring countries. Which of the following would be included in the GNP of Econoland but not in Econoland's GDP?

• A) the value of the output of a factory in Econoland that is owned by a company whose headquarters are located in Macroland
• B) the value of the output of a factory in Macroland that is owned by a company whose headquarters are located in Econoland
• C) the value of output sold in Macroland that was produced by a farmer who owns land in Econland
• D) the value of output produced in Econoland that remained unsold the year it was produced

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Definitions:

Union Demands

The requirements or changes proposed by a labor union on behalf of its members, typically during negotiations with management.

Organizational Culture

The common values, attitudes, and standards that affect how employees within an organization think, feel, and act.

Benchmark Jobs

Positions that are standardized across organizations and industries, used as reference points for setting wage scales and job evaluations.

Market Pay Policy

A compensation strategy that aligns employee salaries with the going rate for similar roles in the external job market.