1. What are the differences of the three approaches in GNP/GDP measurements?
2. Are these measures significant in determining the economic status of the country? How and
Why?
3. Is the GDP/GNP measurement accurate in determining the performance of a country?
4. Can you recommend other measures aside from GDP that a country can use?
1. What are the differences of the three approaches in GNP/GDP measurements?
2. Are these measures significant in determining the economic status of the country? How and
Why?
3. Is the GDP/GNP measurement accurate in determining the performance of a country?
4. Can you recommend other measures aside from GDP that a country can use?
Related textbook solutions
Related questions
7. The difference between nominal GDP and real GDP is that nominal GDP:
| A. |
measures a country's production of final goods and services at current market prices, whereas real GDP measures a country's production of final goods and services at the same prices in all years. |
|
| B. |
is measured in dollar terms, whereas real GDP is measured in terms of numbers of goods and services produced |
|
| C. |
measures the total value of only final goods and services, whereas real GDP measures the value of all goods and services, both intermediate and final |
|
| D. |
measures a country's production of final goods and services at fixed prices, whereas real GDP measures a country's production of all final goods and services at current market prices |
