Post Utme Bsu 2024 Economics Question 1

Practice objective / multiple choice question 1 from the 2024 Post Utme Bsu Economics examination.

Post Utme Bsu 2024 Economics Objective / Multiple Choice
Question 1 POST_UTME_BSU • 2024 • ECONOMICS • objective

A country's GDP is calculated as the sum of all final goods and services produced within its borders. However, this measure does not account for income earned by its citizens from abroad. Which of the following is a correct statement regarding the relationship between GDP and GNP?

Answer Options

A. GDP is always greater than GNP
B. GDP is always less than GNP
C. GDP and GNP are equal
Correct Answer D. GDP is equal to GNP minus net factor income from abroad
Correct Answer
D
Correct Option:
GDP is equal to GNP minus net factor income from abroad

About This Question

This is Post Utme Bsu 2024 Economics Question 1. It is one of the objective questions from the 2024 Post Utme Bsu Economics examination.

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