Which of the following is a component of Gross National Product?
A. GDP plus net factor income from abroad
B. GDP minus net factor income from abroad
C. NDP plus depreciation
D. GDP minus depreciation
Answer: Option A
Solution (By JKSSB Mock Tests)
GNP = GDP + Net factor income from abroad. Net factor income from abroad is the difference between factor income received from abroad and factor income paid to abroad.
Explanation:
The service sector in India has grown rapidly due to economic liberalisation, the information technology revolution, rising incomes and global demand for services such as software and BPO.
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