Question

Which of the following statements about gross domestic product and gross national product is true?a. Gross domestic product includes income payments to foreigners for their work domestically; gross national product does not.b. Gross domestic product includes exports; gross national product does not.c. Gross domestic product includes the income earned abroad by domestic citizens; gross national product does not.d. GDP and GNP are equal.

Answer 1

Answer:

"A"

Explanation:

Gross domestics product is the market value the goods and services produced in a season  irrespective of who produce it whether a foreign or indigenous producer.

Gross national product is the measure of the value of goods and services produced in a season by nationals of a particular country irrespective of the location they were produced.

One major difference between the two is that gross domestic product include income payments to foreigners for their work domestically but gross national product does not.