The Value of Goods and Services Produced by Foreign-Owned Business

question 32

Multiple Choice

The value of goods and services produced by foreign-owned business on U.S. land is included in:

• A) U.S. GDP, only.
• B) U.S. GNP, only.
• C) both U.S. GDP and U.S. GNP.
• D) neither U.S. GDP, nor U.S. GNP.

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Definitions:

Excess Supply

A situation where the quantity of a good or service supplied surpasses the quantity demanded at a specific price.

Excess Demand

Excess demand occurs when the quantity demanded of a product or service at a given price exceeds the quantity supplied, often leading to a shortage.

Income

The money received, especially on a regular basis, for work or through investments.

Wages

Wages are the compensation paid to employees for their labor, often calculated on an hourly, daily, or piecewise basis.