Net national product (NNP) is equal to
A) personal income minus taxes.
B) GNP minus consumption of fixed capital.
C) GDP plus consumption of fixed capital.
D) national income plus consumption of fixed capital.
Question 2
If GDP is less than GNP, we know with certainty that
A) a budget deficit exists.
B) a trade surplus exists.
C) a trade deficit exists.
D) none of the above