If GDP is ₹1200 crore and NFIA is ₹50 crore, what is GNP?
Answer and explanation
Correct answer: ₹1250 crore
The relationship between the two aggregates is GNP = GDP + NFIA. Since NFIA is positive at ₹50 crore, it is added to GDP: ₹1200 crore + ₹50 crore = ₹1250 crore. ₹1150 crore would be correct only if NFIA were negative ₹50 crore. The other values either ignore one component or report NFIA alone.
Frequently asked questions
What is the correct answer to this question?
₹1250 crore
Why is this the correct answer?
The relationship between the two aggregates is GNP = GDP + NFIA. Since NFIA is positive at ₹50 crore, it is added to GDP: ₹1200 crore + ₹50 crore = ₹1250 crore. ₹1150 crore would be correct only if NFIA were negative ₹50 crore. The other values either ignore one component or report NFIA alone.
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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