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:

Environmental Quality

The condition of the natural environment and its ability to support life and activities, often measured by factors such as air and water purity, and biodiversity levels.

Property Rights

Legal rights to possess, use, and dispose of assets or properties.

Economic Outcomes

The results or consequences of economic activities, policies, or events, impacting wealth, resource allocation, and standards of living in a society.

Empirical Evidence

Information acquired by observation or experimentation, used to validate or refute a hypothesis or theory.