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    Question

    Which of the following is true regarding GDP?

    i. In calculating GDP only final marketable goods and services are considered

    ii. GDP can be Nominal or Real GDP

    iii. GDP shows how much is produced within the boundaries of the country by both the citizens and the foreigners

    iv. GDP is essentially about who is doing the production.

    A Only i & ii Correct Answer Incorrect Answer
    B Only i & iii Correct Answer Incorrect Answer
    C Only i, ii, & iii Correct Answer Incorrect Answer
    D Only i, iii, & iv Correct Answer Incorrect Answer
    E All of these Correct Answer Incorrect Answer

    Solution

    GDP is essentially about WHERE production takes place. GNP or Gross National Product is about who produces.

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