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Q: Gross Domestic Product + Net factor income from abroad =
  • A. Personal income
  • B. Personal Disposable Income
  • C. Gross National Product
  • D. Net National Product at factor cost
Correct Answer: Option C - GNP refers to the total value of goods and services produced by the citizen of an economy. It includes four types of goods 1. consumer goods 2. gross private domestic investment in capital goods 3. goods and services produced by government. 4. net export of goods and service. ∴ Gross domestic product + Net factor income from abroad = GNP.
C. GNP refers to the total value of goods and services produced by the citizen of an economy. It includes four types of goods 1. consumer goods 2. gross private domestic investment in capital goods 3. goods and services produced by government. 4. net export of goods and service. ∴ Gross domestic product + Net factor income from abroad = GNP.

Explanations:

GNP refers to the total value of goods and services produced by the citizen of an economy. It includes four types of goods 1. consumer goods 2. gross private domestic investment in capital goods 3. goods and services produced by government. 4. net export of goods and service. ∴ Gross domestic product + Net factor income from abroad = GNP.