Which of the Following Is True About GNP

question 52

Multiple Choice

Which of the following is true about GNP?

• A)includes profits earned by a Mercedes factory in Alabama
• B)excludes profits earned by General Electric in India
• C)measures the market value of all goods and services produced by resources supplied the home country's residents and firms, regardless of the location of the resource
• D)stands for Generally Nice Products
• E)used by countries to classify the World Bank

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Definitions:

Constructive Trust

(1) An implied trust in which a party is named to hold the trust for its rightful owner. (2) An equitable trust imposed on someone who wrongfully obtains or holds legal right to property he or she should not possess.

Created

Brought into existence; the act or process of bringing something into being that did not exist before.

Rightful Owner

A person or entity that legally possesses property or title.

Constructive Trust

A legal remedy imposed by a court to prevent unjust enrichment by transferring property from the person who unjustly benefits to the rightful owner.