The Value of Production Generated by a Country's Factors of Production

question 60

Multiple Choice

The value of production generated by a country's factors of production in foreign countries during a particular year was $51,000,and the value of production generated by foreign factors of production in the country during that year was worth $80,000.Which of the following is likely to be true in this case?

• A) The GDP of the country is higher than its GNP.
• B) The GDP of the country is lower than its GNP.
• C) The GDP of the country equals its GNP.
• D) The GDP of the country equals its trade balance.

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Definitions:

Relearning

The process of learning material or skills that were previously learned and then forgotten.

Original Learning

The initial process of acquiring knowledge or skills through experience, study, or instruction.

Speed

The rate at which someone or something is able to move or operate, or the ability to move quickly.

Stimulus Generalization

The tendency of a learned response to occur in the presence of stimuli similar to the original stimulus that elicited the response.