1- If the value of output by citizens outside the country is greaterthan the value of output by foreigners inside the country, GNP will be less than GDP. 2- Gross domestic product does not include the value of the housing provided by homes that families own themselves.
1- If the value of output by citizens outside the country is greaterthan the value of output by foreigners inside the country, GNP will be less than GDP. 2- Gross domestic product does not include the value of the housing provided by homes that families own themselves.
Chapter5: Gross Domestic Product
Section: Chapter Questions
Problem 13SQ
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![State why each of the following statements is true or false
1- Ifthe value of output by citizens outside the country is greater than the value of output by
foreigners inside the country, GNP will be less than GDP.
2- Gross domestic product does not include the value of the housing provided by homes that
families own themselves.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc93dd862-d75c-497a-ad88-aadf2e429e64%2F1660f56e-2615-4286-9125-c5b9cd5a4c09%2F85gr1v9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:State why each of the following statements is true or false
1- Ifthe value of output by citizens outside the country is greater than the value of output by
foreigners inside the country, GNP will be less than GDP.
2- Gross domestic product does not include the value of the housing provided by homes that
families own themselves.
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