The value of what KFC produces in Japan is included in the U.S. ________ and in the Japanese ________. Group of answer choices GDP; GDP GNP; GDP GDP; GNP GNP; GNP
The value of what KFC produces in Japan is included in the U.S. ________ and in the Japanese ________. Group of answer choices GDP; GDP GNP; GDP GDP; GNP GNP; GNP
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
The value of what KFC produces in Japan is included in the U.S. ________ and in the Japanese ________.
Group of answer choices
GDP ; GDP
GNP; GDP
GDP; GNP
GNP; GNP
Expert Solution
Step 1¹
GDP is the value of all final goods and services pr9duced within the domestic boundaries of a country in a given year.
GNP = GDP + (Net Factor Income from abroad)
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