Which of the Following Statements Is Correct

question 30

Multiple Choice

Which of the following statements is correct?

• A) GNP refers to the total value of all goods and services produced by a national economy.
• B) GDP refers to the total value of all goods and services produced by a national economy regardless of where the factors of production are located.
• C) Growth depends on output increasing at a faster rate than population.
• D) Per capita GDP is calculated by dividing purchasing power parity by the rate of inflation.
• E) Real GDP compares how much a system produces with the resources needed to produce it.

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Definitions:

Geographical Groupings

The organization of entities or data based on geographic locations or regions.

Functional Groupings

A method of classifying and organizing various functions, tasks, or items based on common characteristics or objectives.

Geographical Groupings

The classification of areas or locations based on shared geographical, cultural, or administrative traits, often used in data analysis and marketing strategies.

Market-Based Groupings

Classification of markets, products, or customers based on shared characteristics or behaviors in a commercial context.