Suppose there are two countries in the world, US and Japan. There are Americans

Question

Suppose there are two countries in the world, US and Japan. There are Americans in Japan, and Japanese in the US. Within the US, the market value of all the final goods and services produced by Americans is $200 billion, and the market value of all the final goods and services produced by Japanese is $20 billion. Within Japan, the market value of all the final goods and services produced by Americans is $50 billion, and the market value of all the final goods and services produced by Japanese is $100 billion. what is the GNP of Japan? $ billions
Please enter a whole number, with no decimal point.

Explanation / Answer

As before GDP is the final market value of all goods and services produced in a country irrespective of who produces them (citizens or foreigners, as long as its produced in the country, it counts for that countries GDP) For the us this is 200 billion + 20 billion = $220 billion For Japan it is 50 billion + 100 billion = $150 billion

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