Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

image

Play button

image

Play button

image

Progress

1/5

Click to flip

5 Cards in this Set

  • Front
  • Back
Gross national product (GNP) is
is the value of all final goods and services produced by a nation’s factors of production in a given time period, regardless of where production takes place.
GNP should be adjusted with what?
Income taxes and depreciation
GDP measures?
the final value of all goods and services that are produced within a country in a given time period.

GDP = GNP – factor payments from foreign countries + factor payments to foreign countries
Credit Transactions
Transactions that involve the receipt of payments from foreigners. These include the export of goods and services, unilateral transfers from foreigners, and capital inflows.
Debit Transactions
Transactions that involve payments to foreigners. These include the import of goods and services, unilateral transfers to foreigners, and capital outflows.