5 Questions
What does GNP represent?
The contribution of a country's nationals to the economy
How is Real GNP computed?
At constant prices, expressing value in terms of prices prevailing in the base year
What is the difference between Nominal GNP and Real GNP?
Nominal GNP is measured at current prices, while Real GNP is computed at constant prices
What contributes to changes in Nominal GNP?
Volume of product changes or price changes or both
What does Gross National Product measure?
The value of all finished goods and services produced by a country's citizens, both domestically and abroad
Test your knowledge of economics with this quiz on Gross National Product (GNP), Gross Domestic Product (GDP), inflation, and savings. Learn about the measurement of a country's economic output and the factors that contribute to it.
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