Gross National Product at market prices equals GDP at market prices: MCQ with Answer and Explanation

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Gross National Product at market prices equals GDP at market prices:

A. minus net factor income from abroad

B. plus net factor income from abroad

C. plus depreciation

D. minus depreciation

Answer: Option B

Solution (By JKSSB Mock Tests)

GNP = GDP + net factor income from abroad.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Balance of Payments' current account includes which of the following?

A. Net income from abroad

B. Portfolio investment

C. Foreign direct investment

D. External commercial borrowing

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Correct Answer: Option A

Explanation:
Net income from abroad is part of the current account.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Interest Subvention Scheme' for farmers is implemented by:

A. RBI

B. IRDAI

C. SEBI

D. NABARD and the Government

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Correct Answer: Option D

Explanation:
The interest subvention scheme for farmers is implemented by NABARD and the government.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on logistics services is:

A. 5%

B. 18%

C. 28%

D. 12%

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Correct Answer: Option B

Explanation:
Logistics services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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