The market value in current rupees or dollars of all goods and services, for final use, produced by an economy during a year is
A. Economic Growth (EG)
B. Gross National Product (GNP)
C. Gross State Economy (GSE)
D. None of the above
Answer: Option B
Solution(By Examveda Team)
The market value in current rupees or dollars of all goods and services, for final use, produced by an economy during a year is Gross National Product (GNP).It is the total domestic and foreign output claimed by residents of a country, consisting of gross domestic product (GDP), plus factor incomes earned by foreign residents, minus income earned in the domestic economy by non-residents.
Gross national product (GNP) is the market value of all the goods and services produced in one year by labour and property supplied by the citizens of a country.
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