Question
Which of the following statement is/are incorrect about
“Gross Domestic Product”? I. Gross Domestic Product (GDP) is that income or product which accrues to the economic agents who are residents of the country. II. The income earned by the Non-Resident Indians (NRIs) will be a part of India's Gross National Product (GNP).Solution
Explanation: Gross Domestic Product (GDP) measures the aggregate/total production of final goods and services taking place within the domestic territory of the country during a year. But it may be possible that the foreign nationals working within India have contributed in that GDP production. GNP is that income or product which accrues to the economic agents who are residents of the country. Thus, GNP is the value of all finished goods and services owned by a country's residents, whether or not those goods are produced in that country.
What was the original name of ‘Gumani’, a famous poet of Kumaun?
It is the festival of Martial Dance is celebrated to mark the major victory of peace over war. What is the name of the festival and where it is celebra...
What kind of relationship exists between income and demand in case of normal goods?
To which feature of the Constitution of India does the appointment of the Governor by the Centre belong?
Into how many books is the Akbar Nama divided?
The Government of India launched a scheme for critical minerals. Which of the following is NOT considered a critical mineral?
Which literary genre is characterized by imaginative or non-realistic elements, often involving magic or supernatural phenomena?
By what methodology is the NSE/BSE Index calculated?
Elon Musk Founded a company in 2002 in ____.
Who among the following had been appointed as Managing Director and Chief Financial Officer of the World Bank in July 2019?
Relevant for Exams:
