Which statement concerning national income accounting is true?
- ADepreciation does not need to be subtracted from GDP figures because it has already been taken into account by firms.
- BGDP greatly overstates the true value of output because some of the profit it includes is supernormal profit.
- CGDP is a better measure of living standards than GNP because net property income from abroad is not available for citizens.
- DGNP per capita ignores many important factors that affect citizens’ living standards.