Post Utme Lead City University 2023 Economics Question 16

Practice objective / multiple choice question 16 from the 2023 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2023 Economics Objective / Multiple Choice
Question 16 POST_UTME_LEAD_CITY_UNIVERSITY • 2023 • ECONOMICS • objective

A country's GDP is calculated as the sum of the value 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 best describes the difference between GDP and GNP?

Answer Options

A. GDP includes income earned from abroad, while GNP does not.
Correct Answer B. GDP excludes income earned from abroad, while GNP includes it.
C. GDP and GNP are equivalent measures.
D. GDP is a measure of a country's income, while GNP is a measure of its exp\enditure.
Correct Answer
B
Correct Option:
GDP excludes income earned from abroad, while GNP includes it.

About This Question

This is Post Utme Lead City University 2023 Economics Question 16. It is one of the objective questions from the 2023 Post Utme Lead City University Economics examination.

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