BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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If an Indian Citizen renting a flat in London it is to be included in .
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GDP of India
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GNP of London
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GNP of India
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GDP of London
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Explanation:
Detailed explanation-1: -Consumption spending on housing services (averaging roughly 12-13% of GDP), which includes gross rents and utilities paid by renters, as well as owners’ imputed rents and utility payments.
Detailed explanation-2: -Housing services are a component of personal consumption expenditures (PCE), and consequently part of GDP, in the national income and product accounts (NIPAs).
Detailed explanation-3: -GDP includes the production and income of foreigners and foreign-owned property in the home country and excludes the production and incomes of the country’s own citizens or their property located abroad.
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