Author Question: The difference between a country's Gross National Product (GNP) and its Gross Domestic product (GDP) ... (Read 140 times)

Redwolflake15 · **on:** Jun 30, 2018

The difference between a country's Gross National Product (GNP) and its Gross Domestic product (GDP) is that

A) GNP refers to production within the nation while GDP refers to production by domestic factors no matter where they are located.
B) GNP is always bigger than GDP.
C) GDP refers to production within the nation while GNP refers to production by domestic factors no matter where they are located.
D) Two of the above are true.

Question 2

If consumption spending increases because people feel more confident about the future,

A) aggregate demand will shift to the left.
B) aggregate demand will shift to the right.
C) aggregate supply will shift to the left.
D) aggregate supply will shift to the right.