Question and answer
How is the standard of living measured.? A the GDP plus the GNP B by the real GDP per capita C total production output per year D aggregate supply minus aggregate demand
GDP can be contrasted with gross national product (GNP) or gross national income (GNI). The difference is that GDP defines its scope according to location, while GNP defines its scope according to ownership. [ In a global context, world GDP and world GNP are, therefore, equivalent terms. GDP is product produced within a country's borders; GNP is product produced by enterprises owned by a
country's citizens. The two would be the same if all of the productive enterprises in a country were owned by its own citizens, and those citizens did not own productive enterprises in any other countries. In practice, however, foreign ownership makes GDP and GNP non-identical. Production within a country's borders, but by an enterprise owned by somebody outside the country, counts as part of its GDP but not its GNP; on the other hand, production by an enterprise located outside the country, but owned by one of its citizens, counts as part of its GNP but not its GDP. To take the United States as an example, the U.S.'s GNP is the value of output produced by American-owned firms, regardless of where the firms are located. Similarly, if a country becomes increasingly in debt, and spends large amounts of income servicing this debt this will be reflected in a decreased GNI but not a decreased GDP. Similarly, if a country sells off its resources to entities outside their country this will also be reflected over time in decreased GNI, but not decreased GDP. This would make the use of GDP more attractive for politicians in countries with increasing national debt and decreasing assets. ]
Expert answered|anithas|Points 22|
Question
Asked 12/26/2012 9:14:52 PM
0 Answers/Comments
Get an answer
Ask Weegy or search for an answer now. (Free)
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
16,966,651 questions answered
Popular Conversations
Given: 9x > -36. Choose the solution set. {x | x 4} {x | x ...
Weegy: Hi.welcome to weegy.Kindly state the choices of your question.Thanks for using weegy. [smile] User: Given: 9x ...
7/29/2014 10:24:41 AM| 5 Answers
Fill in the blank with the appropriate number. 2/5* ____ = 1
Weegy: A blank is a type of cartridge for a firearm that contains gunpowder but no bullet or shot. When fired, the ...
7/29/2014 5:56:58 PM| 4 Answers
features of a simple network and the network infrastructure for alarg ...
Weegy: The simple network consists of two or more connected computers and the basic network components include ...
7/29/2014 5:02:00 AM| 3 Answers
A line has a slope of 1/2 and a run = 50. What is the rise?
Weegy: Slope = rise/ run Rise = slope x run = 1/2x50 = 25 User: Find the next term of the given sequence. 1.31, 2.54, ...
7/29/2014 8:35:14 AM| 3 Answers
One person can do a certain job in twenty-one minutes, and another ...
Weegy: 12 min User: Which of the following equations has only one solution? x 2 = 9 x(x - 1) = 9 x 2 - 6x + 9 = ...
7/29/2014 11:13:10 AM| 3 Answers
A boat that travels 23 miles per hour in still water is traveling ...
Weegy: 75 miles User: Solve the following system of equations by the substitution method. 5x = y + 6 2x - 3y = ...
7/29/2014 1:55:03 PM| 3 Answers
Which of the following points is in the solution set of y User: Find ...
Weegy: The center of the circle is (2,6). User: Which of the following sets could be the sides of a right ...
7/29/2014 8:47:02 AM| 2 Answers
The sum of 1/6, 2/3, and 1/4 is
7/29/2014 10:01:22 AM| 2 Answers
What makes the EPA one of the weakest agencies? a. funded mandates c. ...
Weegy: a. funded mandates User: When Congress establishes a cost for crops, it is called a(n) a. price ...
7/29/2014 2:22:51 PM| 2 Answers
Weegy Stuff
S
R
L
1
1
P
C
1
P
1
1
L
P
C
P
C
1
P
C
L
P
C
1
P
C
Points 2471 [Total 21471]| Ratings 1| Comments 2461| Invitations 0|Offline
S
L
P
C
P
C
1
L
P
C
L
P
C
P
C
P
C
Points 2292 [Total 17421]| Ratings 0| Comments 2292| Invitations 0|Offline
S
L
P
C
L
P
C
P
C
L
P
C
P
C
Points 2200 [Total 14754]| Ratings 1| Comments 2190| Invitations 0|Offline
S
L
1
Points 1687 [Total 3870]| Ratings 2| Comments 1667| Invitations 0|Offline
S
L
1
1
1
1
L
1
Points 1471 [Total 7648]| Ratings 2| Comments 1451| Invitations 0|Offline
S
1
L
1
L
P
P
L
Points 1007 [Total 10615]| Ratings 0| Comments 1007| Invitations 0|Offline
S
1
L
Points 864 [Total 4540]| Ratings 2| Comments 844| Invitations 0|Online
S
P
C
L
P
L
1
Points 819 [Total 5873]| Ratings 4| Comments 779| Invitations 0|Online
S
Points 173 [Total 177]| Ratings 0| Comments 163| Invitations 1|Offline
S
R
R
Points 160 [Total 348]| Ratings 1| Comments 140| Invitations 1|Offline
Home | Contact | Archive | Blog | About | Terms | Privacy | Social | ©2014 Purple Inc.