Which of the following is not included in GDP but is included in GNP?
A. A foreign company's production in the United States
B. Sales of a good by one firm to another firm
C. Income of a citizen of Germany working in the United States
D. Economic activity of U.S. citizens working abroad
Answer: D
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Use the following table to answer the question below.Giovanni's Production Possibilities ScheduleJorge's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn0160032040120202408080401601204060801600800If Giovanni produces 40 pounds of green beans and Jorge produces 80 pounds of corn, then the total amount of green bean production equals ________ and the total amount of corn production equals ________. If Giovanni and Jorge specialize in their respective low-cost good, then the total pounds of green bean production equals ________ and the total pounds of corn production equals ________.
A. 200, 100; 320, 160 B. 100, 200; 160, 320 C. 100, 200; 320, 160 D. 200, 100; 160, 320
The most common form of trading goods for goods is
A. bilateral trade. B. government commodity distribution. C. status-based trades. D. barter. E. payments in kind.
Tacit collusion occurs in industries that
a. are monopolistically competitive b. contain price leaders c. experience rapid technological change d. are regulated e. produce very differentiated products
In order for the balance of payments to balance,
a. the current account balance must equal the capital account balance b. international reserves must flow out of the country c. international reserves must flow into the country d. the current account balance plus the capital account balance plus the net flow of international reserves plus the statistical discrepancy must equal zero e. the current account balance plus the capital account balance plus the net flow of international reserves must be greater than the statistical discrepancy