Which of the following statements is correct concerning GDP and GNP?
A. GDP measures output produced by a nation's factors even if they are outside the nation's borders.
B. GDP measures output within the nation's borders only.
C. GNP measures output outside a nation's borders, but not inside it.
D. GNP measures output within the nation's borders only.
Answer: B
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Indicate whether the statement is true or false
Because of diminishing marginal utility, total utility always decreases when additional amounts of a commodity are consumed.
Answer the following statement true (T) or false (F)
A "easy" money, tight "fiscal" policy combination will be preferred by society which values
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a. True b. False Indicate whether the statement is true or false