Essay
Identify which of the following goods are part of the current year's U.S. GDP and which are considered current year's U.S. GNP; explain. (Note: Ford is a company owned by U.S. citizens and Toyota is a company owned by Japanese citizens.)
(a) a Ford produced in Mexico
(b) a Toyota produced in California
(c) a meal you make for a dinner party
(d) an American-made vintage T-shirt from Led Zeppelin's 1971 North American tour you bought online last week
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(a) It is part of U.S. GNP but not GDP a...View Answer
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