Q270
The market value in current rupees or dollars of all goods and services, for final use, produced by an economy during a year is
A.
Economic Growth (EG)
B.
Gross National Product (GNP)
AnswerC.
Gross State Economy (GSE)
D.
None of the above
Answer: Option B
Solution
Answer: Option B
Solution:
The market value in current rupees or dollars of all goods and services, for final use, produced by an economy during a year is Gross National Product (GNP).It is the total domestic and foreign output claimed by residents of a country, consisting of gross domestic product (GDP), plus factor incomes earned by foreign residents, minus income earned in the domestic economy by non-residents.
Gross national product (GNP) is the market value of all the goods and services produced in one year by labour and property supplied by the citizens of a country.