Post Utme Ims U 2023 Economics Question 27

Practice objective / multiple choice question 27 from the 2023 Post Utme Ims U Economics examination.

Post Utme Ims U 2023 Economics Objective / Multiple Choice
Question 27 POST_UTME_IMS_U • 2023 • ECONOMICS • objective

The concept of GNP (Gross National Product) is a fundamental principle in national income accounting that refers to the total value of all final goods and services produced by a country's citizens, regardless of where they are produced. Which of the following best describes the concept of GNP?

Answer Options

Correct Answer A. The total value of all final goods and services produced by a country's citizens, regardless of where they are produced.
B. The total value of all intermediate goods and services produced by a country's citizens, regardless of where they are produced.
C. The total value of all final goods and services produced within a country's borders, regardless of who produced them.
D. The total value of all intermediate goods and services produced within a country's borders, regardless of who produced them.
Correct Answer
A
Correct Option:
The total value of all final goods and services produced by a country's citizens, regardless of where they are produced.

About This Question

This is Post Utme Ims U 2023 Economics Question 27. It is one of the objective questions from the 2023 Post Utme Ims U Economics examination.

View More Post Utme Ims U 2023 Economics Questions More Post Utme Ims U Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support