choose the answer from the highlighted below: The gross national product for a c
ID: 1200548 • Letter: C
Question
choose the answer from the highlighted below:
The gross national product for a country is
the volume of production occurring with the country’s borders.
the value of all final goods and services produced by domestically-owned factors of production and sold on the market during a certain period.
the value of all intermediate goods and services produced by domestically-owned factors of production and sold on the market during a certain period.
gross domestic product plus the balance on secondary income.
the value of all intermediate and final goods and services produced by produced by domestically-owned factors of production and sold on the market during a certain period.
1b.
Given the definitions of variables provided ,components of national income, in an open economy
Y = C + I + G given BPI + BSI = 0.
Y = C + I + G+ EXP - IMP given BPI + BSI = 0.
Y = C + I + EXP - IMP given net unilateral transfers are nonzero.
Y = C + EXP - IMP given net unilateral transfers are nonzero.
Y = C + I given net unilateral transfers are nonzero.
Explanation / Answer
the Gross national income of a country is termed as the sum of all private consumption, government spending, country's investment and the net exports of the country
Net exports = Export - import
so option ' b'
i.e. Y = C + I + G + EXP - IMP given BPI+ BSI = 0
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