A nation's prosperity and the standard of living of its citizens are best measured in terms of a) GNP b) GDP b) GDP per capita d) economic output
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International data on GDP and socioeconomic variables a. are inconclusive about the relationship between GDP and the economic well-being of citizens. b. suggest that poor nations actually might enjoy a higher standard of living than do rich nations. c. leave no doubt that a nation's GDP is closely associated with its citizens' standard of living. d. indicate that there are few real differences in living standards around the world, in spite of the large differences in GDP between nations.
Andrew D.
International data on GDP and socioeconomic variables a. Are inconclusive about the relationship between GDP and the economic well-being of citizens. b. Suggest that poor nations actually might enjoy a higher standard of living than do rich nations. c. Leave no doubt that a nation's GDP is closely associated with its citizens' standard of living. d. Indicate that there are few real differences in living standards around the world, in spite of the large differences in GDP between nations.
If receipts of factor income from the rest of the world exceed payments of factor income to the rest of the world, then A) GDP is greater than GNP. B) GDP equals GNP. C) GNP equals NNP. D) GNP is greater than GDP.
Jennifer S.
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