Question

State the full form of GNP.

• A. Gross National Product
• B. Group Net Product
• C. Grand Nuclear Process
• D. Group Networking Process

Answer 1

The correct option is A Gross National Product

Gross National Product (GNP) is defined as the sum of the gross domestic product (GDP) and net factor incomes from abroad. Thus, in order to estimate the gross national product of India, we have to add net factor income from abroad, i.e., income earned by Indian residents abroad minus income earned by non-residents in India to the gross domestic product of India. Symbolically, GNP = GDP + NFIA; where NFIA is the net factor income from abroad.