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Per Capita Income, National Income and Contribution to GDP

Q. Consider t...

Question

Q. Consider the following statements
Which of the above is included in the calculation of Gross national product(GNP)?

A

1 and 3 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

1, 2, 3 and 4

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Solution

The correct option is C 1, 2, and 4 only
Explanation:

Gross national product (GNP) refers to the total value of all the goods and services produced by the citizens and businesses of a country, irrespective of the location of production.

It excludes the income generated by foreign nationals who are residing in the country.

The GNP includes the following economic activities

Indian company working in India

Indian company working abroad

Indian citizen working abroad

Foreign company working in India is included in GDP but not GNP

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