UPSC Economics People as Resource Question Bank Structure of Economy and Human Resources in India

  • question_answer
    The value of all final goods and services produced by the normal residents of a county and their property, whether operating within the domestic territory of the country or outside in a year is termed as

    A) Gross National Income

    B) Net National Income

    C) Gross Domestic Product

    D) Net Domestic Product

    Correct Answer: A

    Solution :

    The sum of a nation's gross domestic product (GDP) plus net income received from overseas. Gross national income (GNI) is defined as the sum of value added by all producers who are residents in a nation, plus any product taxes (minus subsidies) not included in output, plus income received from abroad such as employee compensation and property income.

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