Economy part 3 Important questions on GNP by Md kashif hayat

1.What is the full form of GNP? 

Ans= Gross National Product

2 How can GNP be calculated? 

Ans= It can be calculated by the total value of all the final products and services produced in a given period by a countrys resident. 

3 What is Net Exports? 

Ans= It is the difference between what a country exports ( X) - any imports ( M) of goods and services produced within a financial year. 

Note = GNP is final Goods produced by the citizen of a country irrespective of where they produced. 

4 Define the formula of GNP? 

Ans= GNP=GDP+NFFI ( X-M)  

here, X = Income from abroad, M= foreigners income from India 

NFFI = Net foreign factor income 

5 Define NFFI? 

Ans = it is the difference between a nations GNP and GDP 

© md kashif hayat 

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