Select all that apply. Select the items counted in U. S. Gross National Product. toys from a Chinese-owned factory in China food from an American-owned restaurant in Chicago computers made by a Japanese-owned factory in Texas clothes from an American-owned store in London

Question

Tommy Larson

Social Studies

29 March, 15:23

Select all that apply. Select the items counted in U. S. Gross National Product. toys from a Chinese-owned factory in China food from an American-owned restaurant in Chicago computers made by a Japanese-owned factory in Texas clothes from an American-owned store in London

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Answers (1)

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Hayley Holmes · Answer 1

The items counted in U. S. Gross National Product would be:

-food from an American-owned restaurant in Chicago.

-clothes from an American-owned store in London.

Explanation:

The Gross National Product of a country is defined as the set of final goods and services produced by their factors of production and sold in the market during a given period, usually one year.

The difference between the Gross Domestic Product (GDP) and the Gross National Product (GNP) comes from the measurement of the production that both do: while the GDP quantifies the total production carried out in a country, independent of the residence of the productive factor that generates it; in GNP, on the other hand, only products or services obtained by productive factors resident in the country of measurement are included. By way of example, if a singer, resident in the Netherlands, travels to America and gives a concert in this country, this service will be included in the American GDP and not in the Netherlands. On the contrary, it will be included in the GNP of the Netherlands, its country of residence, but not that of the United States.