Lecture on Chapter 12 – National Income Accounting and the ...

Would get different numbers with more middlemen. We also don’t count sales of used products in GNP, as these have already been counted in GNP when first sold. “Produced by a country’s factors” means that if a Ford factory in Mexico is owned by a U.S. company, the profits go back to the U.S., reflecting the role that the U.S.-owned ... ................
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