Which of the following can be a valid reason for Canada's GDP exceeding its GNP in 2001?
a. Net factor income from abroad in Canada was negative.
b. Canada's GNP measurements were flawed.
c. Canada's indirect business taxes were exceptionally high.
d. The World Bank underestimated Canada's net exports.
e. Canada's residents received more foreign aid than they could spend.
Question 2
Which of the following is true of indirect business taxes?
a. They are included in corporate profits.
b. They are not included in the GDP.
c. They reduce the value of total economic output thereby reducing the value of the GDP.
d. They are collected by business firms that act as agents for the government.
e. They are the same as personal income taxes.
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