Answered step by step
Verified Expert Solution
Question
1 Approved Answer
To obtain a measure of net national product from GNP, it is necessary to: a) add any transfer payments made by government to households. b)
To obtain a measure of net national product from GNP, it is necessary to:
a) add any transfer payments made by government to households.
b) deduct the value of capital used up in the production of current output.
c) deduct any indirect business taxes paid by firms since no output is produced.
d) add any increases in the nation's stock of capital.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started