| 1. Gross National Product refers to the money value of total output or production of final goods and services produced by the nationals of a country during a given period of time. |
| 2. In the calculation of GNP, we include the money value of goods and services produced by nationals outside the country |
A) 1 only
B) 2 only
C) Neither 1 nor 2
D) Both 1 and 2
Correct Answer: D
Solution :
Gross National Product refers to the money value of total output or production of final goods and services produced by the nationals of a country during a given period of time, generally a year. In the calculation of GNP, we include the money value of goods and services produced by nationals outside the country.
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