Multiple Choice
When would an economist focus on GNP rather than GDP?
A) When the economist wants a more accurate measure of production, since GNP data are typically much more precise than GDP data
B) When the economist wants to study consumption, since consumption expenditures are weighted more heavily in GNP than in GDP
C) When the economist wants to measure total income earned or total amount of factors of production supplied by the residents of a country
D) When the economist wants a measure of output that includes depreciation, because GDP omits depreciation in its calculations
Correct Answer:

Verified
Correct Answer:
Verified
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