Question 16
POST_UTME_BABCOCK_UNIVERSITY
•
2017
•
COMMERCE
•
objective
The concept of 'Gross National Product' (GNP) is closely related to the concept of 'National Income' (NI). Discuss the relationship between GNP and NI, and explain how they are calculated.
Answer Options
Correct Answer
A.
GNP is the total value of all goods and services produced within a country's borders, while NI is the total income earned by a country's citizens, regardless of where they reside.
B.
GNP is the total income earned by a country's citizens, while NI is the total value of all goods and services produced within a country's borders.
C.
GNP is the total value of all goods and services produced within a country's borders, while NI is the total income earned by a country's citizens, including those living abroad.
D.
GNP is the total income earned by a country's citizens, while NI is the total value of all goods and services produced within a country's borders, minus the value of imports.
Correct Answer
A
Correct Option:
GNP is the total value of all goods and services produced within a country's borders, while NI is the total income earned by a country's citizens, regardless of where they reside.
About This Question
This is
Post Utme Babcock University
2017
Commerce
Question 16.
It is one of the
objective
questions from the
2017
Post Utme Babcock University
Commerce
examination.