Which of the following statements is FALSE? The GDP of a country equals the value of final output produced within the borders of that country The GNP of a country equals the value of final output produced using factors owned by residents of the country GDP = net income received from abroad by residents of a nation + GNP GDP represents the most commonly used measure of an economy's output

Which of the following statements is FALSE? The GDP of a country equals the value of final output produced within the borders of that country The GNP of a country equals the value of final output produced using factors owned by residents of the country GDP = net income received from abroad by residents of a nation + GNP GDP represents the most commonly used measure of an economy's output

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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