Gross Domestic Product Measures the Output Produced by _____ Using

question 264

Multiple Choice

Gross domestic product measures the output produced by _____ using resources in the United States, while gross national product measures output produced by resources supplied by _____.

• A) foreign citizens only; U.S. citizens
• B) U.S. citizens only; foreign citizens
• C) U.S. or foreign citizens; foreign citizens
• D) U.S. or foreign citizens; U.S. citizens

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Definitions:

Fixed

Typically refers to costs or assets that do not vary with the level of production or sales in the short term.