What Is the Major Distinctive Characteristic of Using the Gross

question 93

Multiple Choice

What is the major distinctive characteristic of using the gross domestic product (GDP) versus the gross national index (GNI) as a measure of economic growth?

• A)The GDP does not include income earned by individuals or corporations if the revenue comes from sources outside the country.
• B)The GDP includes income earned by corporations from sources outside the country, but not earned by individuals.
• C)The GDP includes individual income earned from sources outside the country, but not earned by corporations.
• D)The GDP includes incomes earned by both individuals and corporations regardless of source.

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Definitions:

General Partner

A member of a partnership who has unlimited liability and is responsible for the management of the partnership.

Limited Partnership

A business structure with at least one general partner who manages the business and assumes unlimited liability, and one or more limited partners who provide capital and have limited liability.

Limited Partnership

A partnership structure where at least one partner has unlimited liability (general partner) and one or more partners have limited liability (limited partners), restricting their losses to their investment in the partnership.

Limited Liability Partnership

A business structure where partners have limited liabilities, protecting personal assets from the debts of the business.