GDP & GNP Composition - General Economics & Indian Economy

Q.  Consider the following statements

1. GDP takes into consideration income received from abroad.

2. GNP takes into consideration everything produced within a country

Which of the above statements are correct?
- Published on 04 Apr 15

a. Only 1
b. Only 2
c. Both
d. None

ANSWER: None
 
GDP takes into consideration everything produced within a country while GNP takes into consideration income received from abroad also.

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