GNP is what type of product measure?
Answer and explanation
Correct answer: Gross National Product
GNP stands for Gross National Product. “Gross” means that depreciation or consumption of fixed capital has not been deducted, while “national” means that the measure is based on production by normal residents, including their relevant factor income from abroad. NNP is different because depreciation is subtracted from GNP.
Frequently asked questions
What is the correct answer to this question?
Gross National Product
Why is this the correct answer?
GNP stands for Gross National Product. “Gross” means that depreciation or consumption of fixed capital has not been deducted, while “national” means that the measure is based on production by normal residents, including their relevant factor income from abroad. NNP is different because depreciation is subtracted from GNP.
Which subject and chapter does this question cover?
This is a Class 12 Economics question. Chapter: National Income and Related Aggregates. Topic: Aggregates related to national income - GNP.
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