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Macroeconomics MCQs

GNP and GDP differ because:

GNP represents all goods and services produced/provided by the residents of a country while GDP represents all goods and services produced/provided within a country's physical borders

GDP represents all goods and services produced/provided by the residents of a country while GNP represents all goods and services produced/provided within a country's physical borders

GNP will always be lower than GDP due to the adjustment for foreign taxes

GDP is adjusted for inflation while GNP is not

GNP is adjusted for inflation while GDP is not

Answer

Correct Answer: GNP represents all goods and services produced/provided by the residents of a country while GDP represents all goods and services produced/provided within a country's physical borders

Explanation:

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