Which of the Following Statements Is Correct

Multiple Choice

Which of the following statements is correct?

A) GNP refers to the total value of all goods and services produced by a national economy.
B) GDP refers to the total value of all goods and services produced by a national economy regardless of where the factors of production are located.
C) Growth depends on output increasing at a faster rate than population.
D) Per capita GDP is calculated by dividing purchasing power parity by the rate of inflation.
E) Real GDP compares how much a system produces with the resources needed to produce it.