1. Philippine Immigrants Abroad. Every year, the Philippines sends many workers abroad including nurses, health professionals, and oil workers. How do you think GNP and GDP in the Philippines compare?...

1. Philippine Immigrants Abroad. Every year, the Philippines sends many workers abroad including nurses, health professionals, and oil workers. How do you think GNP and GDP in the Philippines compare?

2. Sales versus Value Added. Explain carefully why value added may be a better measure than total sales in comparing a country to a corporation. Hint: If we measured total sales in a country, would this exceed GDP? (Related to Application 1 on page 123.)