GDP and GNP Simple

_________ is the total goods and services produced within the land and maritime boundaries of a country.

GNP is

• Money made by businesses in a country

• The total money earned by the government

• Money earned in the country PLUS money earned by businesses owned by the country and its citizens around the world.

• The total output of the manufacturing sector

What is the major difference between GDP and GNP?

• Cost and Revenue

• Profit and Loss

• Goods and Services

• Money earned locally and money earned locally and internationally

James is citizen of Trinidad and Tobago. He owns a chocolate factory in England. The output/money made by that chocolate factory will be measured in which country's GNP?

• England

• France

• Jamaica

• Trinidad and Tobago

Stephon is a citizen of Barbados and owns a music store in Barbados. The output of the store is known as ________ and the country in which it will be recorded is _________