Answer:
1. d. All of the above are true.
2. c. GDP refers to production within the nation while GNP refers to production by domestic factors no matter where they are located.
Explanation:
1. The ratio of country's exports to GDP is known as trade-to-GDP ratio or the index of openness. This ratio main objective is to measures the importance of international trade in an economy and its usually remain high for developing countries.
2. The only difference between GDP and GNP is that of net factor income from abroad. While GDP only takes into account production of goods and services within the country's borders; GNP takes into account production of all economy owned identities, no matter where they are located.
Personal computers
Sentence:
Examples of services are personal computers.
Answer:C. Simultaneous production and consumption.
Explanation:
Production and consumption occuring at the same time will not make products to differ.
Heterogenity which refers to different qualities in firms will lead to different products. Time perishable capacity which means idle time during low patronage will still allowed products differences, Abilities to limit the discretionary input of personnel will not debar product differences and Customer provides significant input into the process will allowed products differences.
Answer:
The correct answer is: monetary value of all final goods and services produced within the borders of a nation in a particular year.
Explanation:
GDP of a nation can be defined as the monetary value of all the goods and services that are produced within the geographical boundaries of the nation in a year.
The GDP does not include intermediate goods and services as it may lead to double counting. The reselling of objects is also not included.
It is used to measure the health of a nation's economy. It shows the level of economic activities in a nation. An increase in GDP means economic growth.
Tactical adoption is a quick-sighted technique, deploying cloud offerings incrementally, resulting in apps and offerings which might be patched collectively to create give-up-to-cease enterprise processes.
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