Post Utme Noun 2017 Commerce Question 21

Practice objective / multiple choice question 21 from the 2017 Post Utme Noun Commerce examination.

Post Utme Noun 2017 Commerce Objective / Multiple Choice
Question 21 POST_UTME_NOUN • 2017 • COMMERCE • objective
Post Utme Noun 2017 Commerce Question 21 diagram

The concept of 'Gross National Product' (GNP) is closely related to the concept of 'Gross Domestic Product' (GDP). Explain the relationship between these two concepts, using a diagram to illustrate your answer.

Answer Options

Correct Answer A. GNP is a measure of the total value of goods and services produced within a country's borders, while GDP is a measure of the total value of goods and services produced by a country's citizens, regardless of where they are produced.
B. GDP is a measure of the total value of goods and services produced within a country's borders, while GNP is a measure of the total value of goods and services produced by a country's citizens, regardless of where they are produced.
C. GNP is a measure of the total value of goods and services produced by a country's citizens, regardless of where they are produced, while GDP is a measure of the total value of goods and services produced within a country's borders.
D. GDP and GNP are two different measures of the same thing.
Correct Answer
A
Correct Option:
GNP is a measure of the total value of goods and services produced within a country's borders, while GDP is a measure of the total value of goods and services produced by a country's citizens, regardless of where they are produced.

About This Question

This is Post Utme Noun 2017 Commerce Question 21. It is one of the objective questions from the 2017 Post Utme Noun Commerce examination.

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