If GDP Exceeds GNP,we Know with Certainty That

question 15

Multiple Choice

If GDP exceeds GNP,we know with certainty that

• A)a budget deficit exists.
• B)a trade surplus exists.
• C)a trade deficit exists.
• D)receipts of factor income from the rest of the world exceed payments of factor income to the rest of the world.

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Definitions:

Self-reported

Information provided directly by individuals about themselves without external verification.

Personal Happiness

An individual's overall subjective feeling of well-being and satisfaction with life.

Decades

Periods of ten years.

Subjective Well-being

An individual's self-assessment of their overall happiness and life satisfaction.