7-Nominal GDP is a better gauge of economic well-being than real GDP:True-false.
3–The citizens of Denmark earn $300 million of income from abroad whereas citizens of other countries earn $500 million in Denmark. Therefore, Denmark’s net factor payments from abroad are positive, and its GDP is larger than its GNP.net factor payments from abroad are negative, and its GDP is larger than its GNP.net factor payments from … Read more