The old Gross National Product (GNP) measurement was replaced by the newer Gross Domestic Product (GDP) definition in 1992. What was one of the biggest differences between the two

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Answer 1

The biggest differences between the two are that GDP no longer counted foreign activities of American businesses located in other nations.

GDP is a hallmark of the nearby/countrywide economy, GNP represents how it is nationals are contributing to the country's economy. For instance, united states of America-based information reporter sent to South Korea and sends her Korean earnings home, they make contributions undoubtedly to the united states' GNP. GDP excludes goods and offerings which can be produced out of doors in the economic system while GNP excludes items and offerings which might be produced by way of foreigners living inside u. s . a .. GDP measures best home manufacturing whereas GNP measures handiest the manufacturing by using nationals.

GDP seems for the amount of monetary activity within a state's economic system, whilst GNP appears on the price of the economic hobby generated with the aid of the state's human beings. which means GNP will matter to the monetary activities of expatriates and different residents out of doors u. s. a .'s borders but GDP will now not. GDP will recall the activities of noncitizens within those borders, however, GNP will now not.

GNP can be calculated by adding intake, authorities spending, capital spending with the aid of agencies, internet exports, and net income with the aid of domestic citizens and companies from distant places investments. This discern is then subtracted from the internet profits earned with the aid of foreign citizens and agencies from home investment.

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Related Questions

According to the VRIO framework, in order for a firm to gain a temporary competitive advantage, a resource must be at least both ______.

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According to the VRIO framework, in order for a firm to gain a temporary competitive advantage, a resource must be at least both Valuable and rare.

Which of the following is a part of the VRIO framework?A four-pronged review of an organization's resources and long-term success indicators is provided by the VRIO Framework. It emphasizes Value, Rarity, Imitability, and Organization as its four key objectives.

What does VRIO framework?

The abbreviation VRIO stands for a four-question framework that considers value, rarity, imitability, and organization when assessing an organization's capabilities and resources.

What is value in VRIO framework?Value, rarity, imitability, and organization are all letters in the acronym VRIO. Businesses must examine each resource in the internal value chain to determine its worth, rarity, uniqueness, and organization.

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A state feared abuse of its statute providing for welfare benefits, which was administered by its department of public assistance. The department believed that a particular man who had been receiving welfare payments for the past year was not eligible for them because he had adequate means of support. The department informed the man in writing of its decision to terminate his welfare benefits, effective immediately. The department also informed the man that he could schedule an administrative hearing, which would be held in approximately one month, to contest that decision and to present any evidence on his own behalf. If the man challenges this termination on constitutional grounds, will he likely be successful

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For the given case of welfare benefits, if the man challenges this termination on constitutional grounds; Yes, he will likely to be successful because the man had a Due Process "right to notice" and a hearing before his welfare benefits were terminated.

What is right to notice?

A criminal suspect has a right to be informed of the accusations levelled against him. The Constitution serves as a foundation for the notice right. The right "to be informed of the nature and basis of the charge shall be enjoyed by the accused".

The meaning of notice in due process-

The procedure by which a person is made aware of a legal proceeding that affects his or her rights, obligations, or duties is known as notice. Adequate notice is defined as notification that is adequate to give the person a chance to respond to the government's proposed action.

Therefore, the legal term for the demand that a party be informed of legal proceedings impacting their rights, obligations, or duties is notice.

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What type of knowledge develops marketing research-based inferences about how marketing organizations should strategically address problems or opportunities

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descriptive knowledge

For most of her life, Natalie has operated on a pretty tight budget. She was a price-conscious shopper and usually bought store or generic brands to save money. Recently, however, Natalie was given a pretty substantial raise. Since then she has altered her shopping patterns and now regularly buys more expensive, name-brand goods. This is an example of

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This is an example of Income Effect

The income effect means that the change in demand for a good or service which is caused by the change in a consumer's purchasing power resulting from the change in real income.

What is Income Effect ?

The income effect in microeconomics is the change in demand for a good or service caused by a change in a consumer's purchasing power resulting from a change in real income.

The income effect can be both direct (when it is directly related to a change in income) or indirect (when consumers must make buying decisions not directly related to their incomes).

This means consumers will generally spend more if they experience an increase in income. They may spend less if their income drops.

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The cost structures of a monopoly have ____________ relationships among fixed costs, variable costs, marginal costs, and average cost values as pure competition. The cost structures of a monopoly have ____________ relationships among fixed costs, variable costs, marginal costs, and average cost values as pure competition.

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The cost structures of a monopoly have the same relationships among fixed costs, variable costs, marginal costs, and average cost values as pure competition.

Profits for the monopolist, like all organization, can be identical to total revenues minus total costs. The sample of costs for the monopoly may be analyzed inside the identical framework because the costs of a perfectly competitive firm—that is, with the aid of using using total cost, fixed cost, variable cost, marginal cost, average cost, and average variable cost.

However, due to the fact a monopoly faces no competition its situation and its choice method will fluctuate from that of a superbly aggressive organization.

What is Monopoly Price?

A monopoly price is set by a monopoly. A monopoly occurs when a firm lacks any viable competition and is the sole producer of the industry's product. Because a monopoly faces no competition, it has absolute market power and can set a price above the firm's marginal cost. Since marginal cost is the increment in total cost required to produce an additional unit of the product, the firm can make a positive economic profit if it produces a greater quantity of the product and sells it at a lower price.

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If domestic saving is greater than domestic investment, then a country will have a ______ and positive net capital ______.

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If domestic saving is greater than domestic investment, then a country will have a net positive export and positive net capital outflow.

What is net capital outflow?

Net capital outflow refers to the amount a country receives as credit and what is debited to other country. This means there is outflow of funds in a country.

The capital outflow of a country refers to financial assets going from a country to another country.

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If domestic saving is greater than domestic investment, then a country will have a positive net export and positive net capital outflow.

What is domestic saving?

This is the calculation of the Gross domestic product minus the final consumption.

This term is used to refer to the existing difference that exists between gross income and the consumption of a country.

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An implication of trade barriers for business practices is that tariff barriers raise the costs of exporting products to a country.

What is trade barriers ?

Trade barriers serves as any obstacle that can reduce the business of a country with another country.

Major barriers to international trade are:

natural barriers,tariff barriers, taxes on imported goods;

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______, an investor is able to replicate a corporation's capital structure by borrowing funds and using those funds along with her own money to buy the company's stock.

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With homemade leverage, an investor is able to replicate a corporation's capital structure by borrowing funds and using those funds along with her own money to buy the company's stock. This is further explained below.

What is homemade leverage?

Generally, When an investment in a firm that does not use leverage is converted into the impact that leverage has on investment by using personal borrowing, this is an example of homemade leverage.

In conclusion, By utilizing borrowed money plus her own finances to acquire shares in a firm, an investor might "do her own leverage," or mimic the capital structure of a publicly traded company.

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Monopolists set prices without constraints since there is no competition.

Monopolistic is a type of market in which there is no competitor. It has only a single supplier and the goods are provided by a single company. In this market only a single company control demand and supply of the services. It can also b said that it is a non-competitive market. The absence of competition in the market allows the company to determine the price of the commodity. It takes away the bargaining power from the consumer. The single entity offers a unique product to the market and there is no alternative substitute available to the market. Government can curtail the monopoly of a company by limiting price increases, merger regulation, separating entities, etc.

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Twenty years ago, you won a state lottery, and you received $15,000 at the end of each of the next 10 years, and $20,000 at the end of years 11 through 15. Since you did well in FIN 3403, you decided to invest each of your lottery payments. If you earned 9% per year, how much do you have at the end of year 20

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The value of the amount won at the lottery at the end of 20 years is $723,672.24.

What is the value at the end of 20 years?

The formula for calculating future value of annuities is: yearly amount x annuity factor

Annuity factor = {[(1+r)^n] - 1} / r

Where:

r = interest rate n = number of years

Annuity factor for the first ten years = [(1.09^10) - 1] / 0.09 = 15.19293

15.19293 x $15,000 = $227,893.95

Annuity factor for the last 5 years = [(1.09^5) - 1] / 0.09 = 5.9847

5.9847 x 20,000 = $119,694.21

Future value of the lump sum of $227,893.95 in 10 years = $227,893.95 x (1.09^10) = 539,507.86

Future value of the lump sum of $119,694.21 in 5 years = $119,694.21 x (1.09^5) = $184,164.38

Value in year 20 = $184,164.38 + 539,507.86 = $723,672.24

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Shortcutz hair salon offers inexpensive haircuts for $10. They create a marketing campaign extolling the cheap price while showing customers how expensive other salons are in comparison. The campaign encourages consumers shop around and compare prices. Shortcutz focuses solely on price and mentions little about the quality of its haircuts. Which type of psychological pricing communication does shortcutz use?.

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The type of psychological pricing communication does shortcuts used is inviting price comparisons.

The idea behind psychological pricing is that customers will read the slightly lowered price and treat it lower than the price actually is. An example of psychological pricing is an item that is priced at $3.99 but conveyed by the consumer as 3 dollars and not 4 dollars, treating $3.99 as a lower price than $4.00.

A low price allows companies to gain market share by attracting new customers who spread the word about the offering and enticing customers away from competitors. The goal is to rapidly penetrate the market — then eventually raise prices without losing those early adopters.

In 2020, dynamic pricing made headlines when the prices of everyday goods such as toilet paper and hand sanitizer changed dramatically. More common examples are happy hours at your local bar, airline pricing on travel websites, and rideshare surge pricing.

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________________ analyzes how we choose to use our resources on an aggregate (national)level and includes measures of performance such as inflation, unemployment, and federal government expenditures. ________________ analyzes how we choose to use our resources on an aggregate (national)level and includes measures of performance such as inflation, unemployment, and federal government expenditures.

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Macroeconomics is the branch of economics which deals with largescale or general economic factors like interest rates and national productivity. The correct answer is Macroeconomics.

What does Macroeconomics deal with?Macroeconomics examines the functioning, structure, and behavior of the entire economy (like people, households, industries, etc.) in contrast to microeconomics, which focuses primarily on the decisions made by individual economic actors. It analyzes the economy-wide phenomena such as inflation, price levels, rate of economic growth, national income, gross domestic product (GDP), and changes in unemployment. It also analyzes the causes, stimulation and driving forces of these phenomena and how the national performance can be improved.The two main areas of macroeconomic research are long-term economic growth and shorter-term business cycles.

Therefore, the national performance indicators like inflation, unemployment, and federal government expenditures and resource utilization are analyzed are studied under Macroeconomics.

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Fill in the blank. An effective behavioral marketing and segmentation strategy is built on a foundation of good ________.

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An effective behavioral marketing and segmentation strategy is built on a foundation of good data.

Behavioural marketing is the method by which companies usually target audience on the basis of their behaviour, interests, intentions, and other metrics using web analytics, cookies, search history etc.

Segmentation strategy is the strategy which organizes your customer or business base along demographic, geographic, psychological, behavioural lines or combination of them. It usually break the target audience into smaller, more manageable groups.

The above strategy can be built on foundation of good data for better analysis of target audience.

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The Nash equilibrium in an oligopolistic market is generally ________ for society than the outcome under collusion because the price is ________ marginal cost. a. better; closer to b. worse; equal to c. better; further above d. worse; further above

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The Nash equilibrium in an oligopolistic market is generally worse for society than the outcome under collusion because the price is equal to marginal price.

What is Oligopoly?A market structure which has a small number of enterprises and none of which can prevent the others from having a large impact known as an oligopoly.The market share of the major companies is calculated using the concentration ratio.Basically, a market with a monopoly has just one producer, a duopoly has two businesses.An oligopoly has three or more businesses. Although there is no exact maximum limit to the number of businesses in an oligopoly.Mainly, there must be few enough that the decisions of one business have a big impact on the others.What is Nash Equilibrium?The Nash equilibrium is the most popular technique in game theory to describe the outcome of a non-cooperative game involving two or more participants.Each player in a Nash equilibrium is considered to be aware of the equilibrium strategies of the other players, and changing one's own strategy will not benefit anyone.Nash Equilibrium shares its name with the mathematician John Forbes Nash Jr.

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A customer service representative loses his job because his company adopted a new software that does most of his job automatically. This is an example of

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A customer service representative loses his job because his company adopted a new software that does most of his job automatically. This is an example of technological unemployment.

What is technological unemployment?

This are happen when an individual losses her Job due to the use of technology.

The new technology now handles the works and the service of the individual is no longer require.

Therefore, A customer service representative loses his job because his company adopted a new software that does most of his job automatically. This is an example of technological unemployment.

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Before going on his first business trip to China, Albert asked his Chinese American friend to advise him on customs and values common among the Chinese businesspeople he will likely encounter. Albert is trying to avoid ________ business blunders.

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The term "business culture" refers to the collection of norms that may be seen in a company's behavior and operations, including its goals, codes of conduct, rules, procedures, ethics, and values.

A notable example of a company culture is found at Netflix, where the phrase "people over procedure" serves as the organization's guiding principle. Netflix outlines its company principles in its statement on corporate culture. These values include judgment, communication, curiosity, courage, passion, selflessness, innovation, inclusivity, integrity, and impact.

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How does income distribution behave during the Installation and Deployment periods of great surges of development

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The income distribution becomes increasingly polarized during the Installation period and improved distribution during the Deployment period.

What is the Installation period?The term "Installation Period" refers to the time frame beginning on the Actual Commercial Operation Date and terminating on the date provided in the Installation Notice to Proceed.It is the time frame covered by this Agreement for initial instruction and technical support for installing and localizing the Software from the Effective Date to the start of the Software's open beta testing.

What is the Deployment period?The phrase "Deployment Period" refers to the time frame starting with the installation of the first Access Point or Relay and lasting until the installation of the final Integrated Meter that is optimized in accordance with the relevant SOW and the completion of all Execution Milestones.Deployment typically refers to a predetermined period of time spent away from the usual duty station, typically abroad.

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The Allowance for Doubtful Accounts T-account will have the ______ on the credit side. Multiple choice question. sales discounts and allowances write-offs of specific customers sales on account estimated bad debts from the adjusting entry

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The Allowance for Doubtful Accounts T-account will have the estimated bad debts from the adjusting entry sales discounts .

Doubtful account

An allowance for doubtful accounts is considered a “contra asset,” because it reduces the amount of an asset, in this case the accounts receivable. The allowance, sometimes called a bad debt reserve, represents management's estimate of the amount of accounts receivable that will not be paid by customers.

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Suppose that the government implements a new policy that provides free skills training to all low-skilled workers, which makes them more productive and turns them into high-skilled workers. This will ________ the supply of low-skilled workers and ________ the supply of high-skilled workers.

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This will decrease the supply of low-skilled workers and increase the supply of high-skilled workers.

The economic theory of supply and demand describes how prices are set in a market. In a competitive market, it is hypothesized that, all else being equal, the unit price for a specific good or other traded good, such as labor or liquid financial assets, will fluctuate until it settles at a point where the quantity demanded will equal the quantity supplied, resulting in an economic equilibrium for price and quantity transacted. It is the theoretical cornerstone of contemporary economics.The link between supply and demand is crucial because it helps to establish the costs and availability of the majority of goods and services in a given market. The interplay between supply and demand eventually balances out in accordance with the tenets of a market economy.

Thus this is the answer.

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According to a supply and demand model for apples, if the average household income decreases at the same time ten apple orchards go out of business, one would expect the: a. equilibrium quantity of apples in the market to be indeterminate and the equilibrium price of apples to increase. b. equilibrium price of apples to be indeterminate and the equilibrium quantity of apples in the market to increase. c. equilibrium quantity of apples in the market to decrease and the equilibrium price of apples to be indeterminate. d. equilibrium quantity of apples in the market to decrease and the equilibrium price of apples to stay the same. e. equilibrium price of apples to increase and the equilibrium quantity of apples in the market to decrease.

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Option E. Based on the law of supply and demand if orchards go out of business and income decreases, the equilibrium price of apples to increase and the equilibrium quantity of apples in the market to decrease.

What would cause the prices of apple to increase?

Due to scarcity, the prices of apple would increase in the market. People would have to pay more to get the product which is now scarce.

When goods are few in the market they become more expensive than they were before.

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Matthew will evaluate the alternative using a series of questions.

What are the ethics of marketing?

Fairness and honesty are encouraged by marketing ethics in all of their advertisements.

Any false statements made to clients, invasion of their privacy, use of stereotypes, and targeting of the weaker demographic (such as youngsters and the elderly) are all considered unethical. Even attempting to harm a competitor's reputation is regarded as immoral.

Ethics in marketing is essential to ethical decision-making for a product or service to have the best possible presence in its specialized market.

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The managers at Camphor Plastics decided that their firm needed to diversify because of overall falling sales and lower performance in one sector. How does diversifying compensate for the lackluster performance in this sector

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The diversification will compensate for the lackluster performance in this sector by having higher performance in another sector.

What is a diversification?

This is a business strategy that involves entering into a new market that one firm have not be operating in for introduction of a new product for that new market.

Hence, for Camphor Plastics, the diversification will compensate for the lackluster performance in this sector by having higher performance in another sector.

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The incorrect statement about the role of the U.S. Constitution's commerce clause in regulating business activity is not true is "the commerce clause prohibits a state from placing any burden on interstate commerce".

What is U.S. Constitution's commerce clause?

The U.S. Constitution's Article 1, Section 8, Clause 3 is referred to as the "Commerce Clause," and it grants Congress the authority "to regulate commerce with foreign countries, among the several states, and with the Indian tribes."

The examples of commerce clause are-

Dealings in international trade are one instance of this. Federal laws and regulations, for instance, apply to any agreements made by a corporation to distribute a product to another nation. Second, it is asserted that the states and Congress both have concurrent authority to control commerce.

The Commerce Clause has been frequently invoked by Congress as justification for exerting legislative control over the actions of states and their residents, sparking intense and ongoing debate about the distribution of power between the federal government and the states.

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A partner can be held liable for a partnership obligation only if he or she participated in, or knew about, whatever it was that gave rise to the obligation. Group of answer choices False True

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The answer is False.

A partnership is a simple method to start and run a business. A group of friends, family, or even coworkers commonly enter the business field as 'partners.'

Legally, a collaboration is an organization of two or more persons known as general partners who function as co-owners of a corporation and administer it for profit.

Although a formal relationship arrangement is not technically required and an oral agreement may be appropriate, it is always good business to put everything on paper (the ownership specifics, including the parties' rights and obligations and their share of profits) to avoid misunderstandings and disputes.

Therefore, the answer is false.

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Nellie works as an attorney for a large consulting firm. Nellie's job is to act as an advisor to the firm's consultants, to be sure they do not confront any legal issues when they are working at the various clients' job sites. Nellie's position would be classified as a __________ position.

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Nellie's position would be classified as a staff position since he working as an attorney for the same consulting firm.

Who is an attorney?

An attorney is a person or a member of the legal profession. They are licensed and qualified to represent a client in court.

Here, Nellie is providing legal support to his firm's consultant hence his position would be considered as staff.

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A company's plan for the acquisition of long-lived assets, such as buildings and equipment, is commonly called a:

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A company's plan for the acquisition of long-lived assets, such as buildings and equipment, is commonly called a Capital Budget.

What is a Capital Budget?The procedure a company uses to assess potential big projects or investments is called capital budgeting.Before a project is accepted or denied, capital budgeting is necessary. Examples of such projects include the construction of a new plant or a significant investment in a third-party enterprise.It is a means of locating a superior offer for the expansion of the company. A company's bottom line is frequently affected by significant capital decisions, which are frequently tied to capital planning.In capital budgeting, projects that improve a business are chosen. Almost everything, including the acquisition of land or the purchase of fixed assets like a new truck or machinery, can be included in the capital budgeting process.

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If a monopsonist offers a wage of $6, he finds that 1,200 people are willing to work for him. This means that the:

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If a monopsonist offers a wage of $6, he finds that 1,200 people are willing to work for him. This means that the: a marginal factor cost is $6.

Monopsonist

If a monopsonist offers a wage of $6, he finds that 1.200 people are willing to work for him. This means that the O a. total wage cost is $1,200. b. marginal factor cost is $6. O c. total wage cost is $7.200. o d. $6 wage is too high. o e marginal factor cost is $200.

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In a tavern, an intoxicated woman threatened to slash a man with a broken beer bottle. Another customer, who had not been threatened by the woman, forcefully grabbed the woman and locked her in the tavern's storeroom until the police would arrive. In the process, although the customer used reasonable force, the customer badly sprained the woman's wrist. Is the woman likely to recover in an action against the customer

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No, because the customer's conduct was privileged as a defense of others.

What is the customer's conduct?

The Customer Service code of conduct serves as a manual for key principles and acceptable conduct for customer service personnel.

The ethical standards that direct choices and behavior at a business or organization are outlined in the code of ethics and professional conduct. They provide both broad guidelines for acceptable behavior on the part of employees and detailed instructions for dealing with problems like harassment, safety, and conflict of interest.

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Stock R has a beta of 1.3, Stock S has a beta of 0.65, the expected rate of return on an average stock is 10%, and the risk-free rate is 4%. By how much does the required return on the riskier stock exceed that on the less risky stock

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Stock R

AS per CAPM

expected return = risk free

Rate+ beta *(expected return on market - risk free rate )

expected return % =6+1.3*

(13-6)

Expected return % =15.1

Stock S

expected return = risk free

Rate+ beta *(expected return on market - risk free rate )

expected return % = 6+0.65*

(13-6)

expected return %=10.55

Difference =15.1-10.55

Difference =4.55%

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If Elin delivers a check payable to her order to First Bank without signing it and receives cash, the transfer is an assignment, not a negotiation. If Elin delivers a check payable to her order to First Bank without signing it and receives cash, the transfer is an assignment, not a negotiation. True False

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It is a true statement that an assignment occurs when Elin delivers a check payable to her order to First Bank without signing it and receives cash.

What is an assignment?

This refers to the situation whereby the assignor transfers a rights, property or benefits to another known as the assignee.

Hence, an assignment occurs when Elin delivers a check payable to her order to First Bank without signing it and receives cash.

Therefore, it is a true statement.