BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Net Domestic Product
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Gross National Product
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Net National Product
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Gross Domestic Product
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Detailed explanation-1: -Description: Gross National Product (GNP) is Gross Domestic Product (GDP) plus net factor income from abroad. It measures the monetary value of all the finished goods and services produced by the country’s factors of production irrespective of their location.
Detailed explanation-2: -GDP includes net income from abroad.
Detailed explanation-3: -Understanding Gross National Product (GNP) GNP does not include the income of foreign residents within the country. It also does not tally the money earned in India by foreign residents and ignores products that have been manufactured by foreign companies.
Detailed explanation-4: -GNP = C + I + G + X + Z Where C is Consumption, I is investment, G is government, X is net exports, and Z is net income earned by domestic residents from overseas investments minus net income earned by foreign residents from domestic investments.