Unlike the GDP, the GNI

question 75

Multiple Choice

Unlike the GDP, the GNI

• A) includes foreign income.
• B) is the total market value of all goods and services provided in a country's economy in a year by nonresidents.
• C) includes the income earned by residents who do not own resources in that nation.
• D) does not include income earned by foreigners who own resources in that nation.
• E) is a measure of regional income.

---

Definitions:

Total Expenditures

The sum total of all spending or expenses incurred by an individual, business, or government.

Demand Curve

A graphical representation that shows the relationship between the price of a good and the quantity demanded by consumers, typically downward sloping.

Price Elasticity

The measure of how much the quantity demanded of a good responds to a change in the price of that good.

Demand Curve

A diagram that illustrates the connection between a product's cost and the amount of it consumers want to buy at various prices.