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19 March, 11:03

g Thomas, a U. S. citizen, works only in Canada. The value of the output he produces is a. included in both U. S. GDP and U. S. GNP. b. included in U. S. GDP, but it is not included in U. S. GNP. c. included in U. S. GNP, but it is not included in U. S. GDP. d. included in neither U. S. GDP nor U. S. GNP.

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  1. 19 March, 14:01
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    Answer: C) included in U. S. GNP, but it is not included in U. S. GDP

    Explanation: The gross national income also known as the gross national product (GNP) can be simply defined as the measure of the value of products and services produced or provided by the citizen of a country whether the production of such goods and services took place within the country (domestic) or abroad (foreign).

    On the other hand, Gross domestic product (GDP) is the measure of the value of products and services produced or provided by non citizens and citizens of a country as long as the production took place within the borders of the country (domestic).

    So if Thomas who is a US citizen should work in Canada (abroad/foreign), the Value of the output he produced will be included in U. S. GNP since he is a citizen of US, but will not be included in U. S. GDP since the work wasn't within the borders of US.
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Home » Business » g Thomas, a U. S. citizen, works only in Canada. The value of the output he produces is a. included in both U. S. GDP and U. S. GNP. b. included in U. S. GDP, but it is not included in U. S. GNP. c. included in U. S. GNP, but it is not included in U.
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