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Question

Consider the following statements: -

1. National disposable income includes Net National Product at Market prices only.

2. GDP is a measure of National Income/ National output and National expenditure produced in a particular country.

3. GNP includes the value of all goods and services produced by nationals whether in the country a abroad.

4. GNP does not include dividends and interest from abroad in Income.

Which of the above statements is are correct?


A

1 and 2 only

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B

2 and 3 only

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C

1, 2 and 4 only

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D

All of these

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Solution

The correct option is B

2 and 3 only


(source: NCERT)

  • National disposable Income = Net national product at market prices + other current transfers from the rest of the world (Thus 1st statement is incorrect)
  • GNP = GDP + Net factor Income from abroad. The net income from abroad includes dividends, interest and profit. (Thus statement 4 is incorrect) Statement 2 and 3 are correct.

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