- GDP = Total value of goods and services produced within a country's borders. - GNP = GDP + Net Factor Income from Abroad (NFIA). - NFIA = Income earned by residents from abroad - Income paid to non-residents domestically.
Which of the statements given below is/are correct? (i) GNP is always higher than GDP. (ii) If GDP is greater than GNP, then net factor income earned abroad is negative. Select the correct answer using the codes given below.
Asked in APSC CCE Prelims Exam 2022 · Topic: National Income & Gross Domestic Product (Gross National Product (GNP))
More Economic Development questions
- GNP measures ______.
- Which of the following statement/s is/are incorrect ? (a) GNP is the total money value of goods and services produced by the nationals during the given year. (b) The part of income produced in the country but earned by foreigners is included in GNP. (c) Per capita income shows the marginal income of the people in the country.
- Consider the following statement: Statement I : Gross National Product will always be more than the GDP. Statement II : To get GNP, net factor income from abroad is added to GDP. Find the correct answer:
- Suppose an Indian citizen makes an investment abroad and earns a positive return on her investment. Which of the following is correct ?
- Which of the following is not required while considering GNP (Gross National Product)?
- The proportion of labour in GNP (Gross National Product) becomes low due to the following reason:
- What impact does an increase in the GNP deflator have on the purchasing power of money ?
- The main difference between GDP and GNP is