Post Utme Uniosun 2021 Economics Question 17

Practice objective / multiple choice question 17 from the 2021 Post Utme Uniosun Economics examination.

Post Utme Uniosun 2021 Economics Objective / Multiple Choice
Question 17 POST_UTME_UNIOSUN • 2021 • ECONOMICS • objective

A country's GDP is calculated as the sum of the value of all final goods and services produced within its borders. What is the difference between GDP and GNP?

Answer Options

A. GDP includes income earned by foreign residents, while GNP excludes income earned by domestic residents.
Correct Answer B. GDP excludes income earned by foreign residents, while GNP includes income earned by domestic residents.
C. GDP includes income earned by domestic residents, while GNP excludes income earned by foreign residents.
D. GDP excludes income earned by domestic residents, while GNP includes income earned by foreign residents.
Correct Answer
B
Correct Option:
GDP excludes income earned by foreign residents, while GNP includes income earned by domestic residents.

About This Question

This is Post Utme Uniosun 2021 Economics Question 17. It is one of the objective questions from the 2021 Post Utme Uniosun Economics examination.

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