Multiple Choice
In national income accounting, how does gross domestic product (GDP) differ from gross national product (GNP)?
10. Measuring National Output and Income
Other Measures of Total Production and Total Income
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In national income accounting, how is gross national product (GNP) different from gross domestic product (GDP)?
A
GNP includes only goods production while GDP includes both goods and services production.
B
GNP measures production by a country’s residents (nationals) regardless of where it occurs, while GDP measures production within a country’s borders regardless of who produces it.
C
GNP measures production within a country’s borders, while GDP measures production by a country’s residents regardless of where it occurs.
D
GNP excludes depreciation (capital consumption allowance) while GDP includes depreciation.
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