If GDP in an Economy Is Greater Than Its GNP,it

question 14

Multiple Choice

If GDP in an economy is greater than its GNP,it means that

• A)net factor payment from abroad is positive.
• B)net factor payment from abroad is negative.
• C)net factor payment from abroad is zero.
• D)there is a measurement error.

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Definitions:

Federal and State Contracts

Legal agreements entered into by federal or state government bodies with individuals, businesses, or other governments for procurement of goods and services.

Primary Occupation

The main job or profession through which an individual gains the majority of their income or spends the most working hours.

Inherent Factors

Characteristics or attributes that naturally exist within a person, object, or situation from the beginning.

Flexible and Innovative

The ability to adapt to changes and introduce new ideas or procedures effectively.