What are the distinctions between domestic and national, and ...

[jilianpiloj]

What are the distinctions between domestic and national, and gross and net?
 
  What will be an ideal response?

Question 2

Gross revenue minus explicit and implicit costs is equal to
 
  A) net worth. B) accounting profit. C) economic profit. D) opportunity cost.

[diesoon]

Answer to Question 1

Domestic means that the production being measured is within a country no matter by whom; national means that the production is produced by residents of the nation anywhere within the world. Gross means before subtracting depreciation. Net means after subtracting depreciation. The terms apply to investment, business profit, and aggregate production.

Answer to Question 2

C

[jilianpiloj]

Gracias!

[alexanderhamilton]

Thanks for the timely response, appreciate it