Which of the following statements describe the Gross National Product (GNP)?

1. the amount of goods and services manufactured each year
2. the ratio between the amount of exports versus imports
3. a standard by which economists measure the health of a nation
4. the total deficit or surplus in trade a nation has each year
(you can choose more then one.)

Question

Which of the following statements describe the Gross National Product (GNP)?

1. the amount of goods and services manufactured each year
2. the ratio between the amount of exports versus imports
3. a standard by which economists measure the health of a nation
4. the total deficit or surplus in trade a nation has each year
(you can choose more then one.)

anonymous · Answer

1.A is correct because ... Only final goods and services are included in GDP