New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    It is the total value of all finished goods and

    services produced by a country's citizens in a given financial year, irrespective of their location, it is?
    A Net National Product Correct Answer Incorrect Answer
    B Net Domestic Product Correct Answer Incorrect Answer
    C Gross Domestic Product Correct Answer Incorrect Answer
    D Gross National Product Correct Answer Incorrect Answer

    Solution

    Gross National Product (GNP) is the total value of all finished goods and services produced by a country's citizens in a financial year, irrespective of their location. GNP also measures the output generated by a country's businesses located domestically or abroad. Gross National Product (GNP) is the GDP of a country added with its ‘income from abroad’. Here, the trans-boundary economic activities of an economy is also taken into account.

    Practice Next

    Relevant for Exams: