New 55% Off on All Courses - Enroll Now! Click Here

    Question

    Which of the following statements is correct about the

    calculation of national income?
    A Gross Domestic Product (GDP) - NFIA = Gross National Product (GNP) Correct Answer Incorrect Answer
    B Gross National Product (GNP) + Depreciation = Net National Product (NNP) Correct Answer Incorrect Answer
    C Gross National Product (NNP) is also called National Income Correct Answer Incorrect Answer
    D All are incorrect Correct Answer Incorrect Answer

    Solution

    Correct economic terms are: GDP + NFIA (Net Factor Income from Abroad) = GNP, and GNP - Depreciation = NNP. NNP is also referred to as National Income or Net National Income.

    Practice Next

    Relevant for Exams: