The market value in current dollars of all goods and services produced within a country for final use during a year is the
a.
gross national product.
b.
gross world product.
c.
per capital GNP.
d.
per capita GDP.
e.
gross domestic product.
Developed countries
a.
are highly industrialized.
b.
have a low GNP per person.
c.
are generally located in Asia.
d.
make up about 80% of the world's population.
e.
use about 12% of the world's natural resources.
Which of the following statements about developing countries is true?
a.
They are highly industrialized.
b.
They have high average GNPs per person.
c.
They include the United States, Germany, and Japan.
d.
They have about 15% of the world's wealth and income.
e.
They have about 85% of the world's wealth and income.
I'll be glad to check your answers.
a d and e
Is it possible you are guessing??? All of your answers are wrong.
http://www.investopedia.com/terms/g/gdp.asp
To answer the first question about the market value of goods and services produced within a country for final use during a year, the correct answer is e. gross domestic product (GDP).
To get to this answer, we need to understand what each option represents:
a. Gross national product (GNP) refers to the total value of goods and services produced by the residents of a country, both domestically and abroad, during a year. It includes the income generated by the country's residents regardless of their location.
b. Gross world product (GWP) refers to the total market value of all goods and services produced globally in a year.
c. Per capita GNP is calculated by dividing the GNP by the population of a country and measures the average GNP per person.
d. Per capita GDP is calculated in the same way as per capita GNP, but it uses the GDP instead of the GNP.
e. Gross domestic product (GDP) represents the total market value of all final goods and services produced within a country's borders in a specific time period, usually a year. It includes both goods and services produced by domestic industries and foreign-owned firms within the country's territory.
Since the question is asking for the market value of goods and services produced within a specific country, the correct answer is e. gross domestic product (GDP).
Moving on to the second question about developed countries, the correct answer is a. they are highly industrialized.
To determine this, let's look at the options:
a. Developed countries are highly industrialized as they have advanced infrastructure, technology, and industries.
b. Having a low GNP per person does not define developed countries, as it depends on various factors like income distribution and social policies.
c. The location of developed countries is not limited to Asia. They can be found in various regions around the world.
d. Developed countries do not make up about 80% of the world's population. They are typically a smaller percentage of the world's population.
e. The usage of natural resources is not a defining characteristic of developed countries.
Therefore, the correct answer is a. they are highly industrialized.
Lastly, for the question about developing countries, the correct answer is d. They have about 15% of the world's wealth and income.
To determine this, let's examine the options:
a. Developing countries are not highly industrialized as they are still in the process of economic and social development.
b. They typically have lower average GNPs per person compared to developed countries.
c. The stated countries (United States, Germany, and Japan) are not typically considered developing countries. They are examples of developed countries.
d. Developing countries generally have a smaller share of the world's wealth and income compared to developed countries.
e. Developed countries tend to have a larger share of the world's wealth and income, so this option does not apply to developing countries.
Therefore, the correct answer is d. They have about 15% of the world's wealth and income.