Thomas,a U

question 90

Multiple Choice

Thomas,a U.S.citizen,works only in Canada.The value of the output he produces is

• A)included in both U.S.GDP and U.S.GNP.
• B)included in U.S.GDP,but it is not included in U.S.GNP.
• C)included in U.S.GNP,but it is not included in U.S.GDP.
• D)included in neither U.S.GDP nor U.S.GNP.

---

Definitions:

Poverty

The state of having insufficient financial resources to meet basic living needs such as food, shelter, and healthcare, leading to a lower quality of life.

Natural Resource Base

The foundational elements provided by the natural environment that support human society and economic activities, including water, soil, minerals, and forests.

Cost-Benefit Analysis

A systematic approach to estimating the strengths and weaknesses of alternatives used to determine options which provide the best approach to achieve benefits while preserving savings.

Economically Efficient

A situation where resources are allocated in a way that maximizes the net benefit to society or minimizes wastage.