The difference between the gross domestic product (GDP) a...
The difference between the gross domestic product (GDP) and gross national product (GNP) is?
Depreciation
Transfer payment
Net income from abroad
Direct taxes
Correct answer is C
The most important distinguishing point between these two is that while we calculate GDP, we take into consideration whatever is produced within the local borders of the country and so it includes the goods and services produced by the foreign nationals also but if we talk about GNP, only the production done by the country’s citizens is considered whether they are inside or outside the country and the contribution of foreign citizens are completely excluded.
Net income from abroad is income earned by any person {including Artificial} i.e citizen of that country, earned even outside political boundaries i.e land + 20 nautical miles of water. This is GNP. Income earned by anyone {including foreign citizen} within the country is GDP.
The slow pace of industrial growth in Nigeria can be attributed to ...
Which of the following is a liability of a commercial bank? ...
The concentration of many firms of a particular industry in a particular area is known as ...
The deregulation of the petroleum sector in Nigeria will bring about ...
If the demand function is Qd = -0.5 + 20, calculate the quantity demanded when price is $15.0 ...
Government can influence aggregate demand through all the following measures except ...