Which best describes a key difference between gross national product (GNP) and gross domestic product (GDP)?
a. GDP is the value of all the goods and services that citizens of a state produce, whether they live inside the country or abroad; GNP is the sum of all goods and services produced within the borders of a particular state, whether by citizens or not.
b. GNP is the value of all the goods and services that citizens of a state produce, whether they live inside the country or abroad; GDP is the sum of all goods and services produced within the borders of a particular state, whether by citizens or not.
c. GNP is the value of all the goods and services that citizens of a state produce, whether they live inside the country or abroad; GDP is that number divided by the number of people in that state.
d. GDP is the value of all the goods and services that citizens of a state produce, whether they live inside the country or abroad; GNP is that number divided by the number of people in that state.
e. GNP is the sum of all goods and services produced within the borders of a particular state, whether by citizens or not; GDP adjusts that for comparative purposes by comparing how much one can purchase with the same amount of money in different countries.
B
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