BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Gross national product at market prices minus depreciation
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Gross national product at markets prices minus depreciation plus net factor income from abroad
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Gross national product at market prices minus depreciation and indirect taxes plus subsides
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Gross national product at market prices minus net factor income from abroad
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Detailed explanation-1: -Explanation: National income is the total value a country’s final output of all new goods and services produced in one year. It is the gross national product at market prices minus depreciation and indirect taxes plus subsidies.
Detailed explanation-2: -Gross national income (GNI) is defined as gross domestic product, plus net receipts from abroad of compensation of employees, property income and net taxes less subsidies on production.
Detailed explanation-3: -National Income formula equals GDP + Foreign Production by National Residents – Domestic Production by Non-National Residents.
Detailed explanation-4: -Net national product (NNP) is gross national product (GNP), the total value of finished goods and services produced by a country’s citizens overseas and domestically, minus depreciation. NNP is often examined on an annual basis as a way to measure a nation’s success in continuing minimum production standards.
Detailed explanation-5: -The correct option is C Net national product.