Question : If exports equal imports, then which of the following relations will be true?
Option 1: Gross Domestic Product (GDP) = Gross National Product (GNP)
Option 2: Gross Domestic Product (GDP) > Gross National Product (GNP)
Option 3: Gross Domestic Product (GDP) < Gross National Product (GNP)
Option 4: None of these
Correct Answer: Gross Domestic Product (GDP) = Gross National Product (GNP)
Solution : The correct answer is GDP = GNP.
Gross Domestic Product (GDP) is the sum of the ultimate value of goods and services generated inside a country's domestic territory over a specific amount of time.
The gross national product (GNP) is a measure of the overall worth of goods and services purchased by people in a country in a given year, whether on domestic or foreign territory.
As a result, GNP equals GDP plus Net income inflow from assets abroad(NR).
GDP = GNP when NR equals zero and exports equal imports.
Application | Eligibility | Selection Process | Result | Cutoff | Admit Card | Preparation Tips
Question : Net National Product of a country is:
Option 1: Gross Domestic Product (GDP) minus depreciation allowances
Option 2: Gross Domestic Product (GDP) plus net income from abroad
Option 3: Gross National Product (GNP) minus net income from abroad
Option 4: Gross National Product (GNP) minus depreciation allowances
Question : Gross Domestic Product (GNP) - Depreciation allowances = ____________.
Option 1: National Income
Option 2: Net Domestic Product (NDP)
Option 3: Net National Product (NNP)
Option 4: Gross National Product (GNP)
Question : Which of the following identities is correct regarding Gross National Product (GNP)?
Option 1: GNP = GDP (Gross Domestic Product) + Factor income earned by the domestic factors of production employed in the rest of the world + Factor income earned by the factors of production of the rest of the world employed in the domestic economy.
Option 2: GNP = GDP – Factor income earned by the domestic factors of production employed in the rest of the world – Factor income earned by the factors of production of the rest of the world employed in the domestic economy.
Option 3: GNP = GDP + Factor income earned by the domestic factors of production employed in the rest of the world – Factor income earned by the factors of production of the rest of the world employed in the domestic economy.
Option 4: GNP = GDP – Factor income earned by the domestic factors of production employed in the rest of the world + Factor income earned by the factors of production of the rest of the world employed in the domestic economy.
Question : In $\triangle ABC, \angle A+\angle B=145^{\circ}$ and $\angle C+2\angle B=180^{\circ}$. State which one of the following relations is true.
Option 1: CA = AB
Option 2: CA < AB
Option 3: BC > AB
Option 4: CA > AB
Question : What is the full form of GNI?
Option 1: Gross National Interest
Option 2: Gross National Income
Option 3: Gross Net Interest
Option 4: Gross Net Income
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile