CUET Preparation Today
Which of the following correctly defines Gross National Product at Market Prices (GNPMP)? |
GNPMP is the value of all the final goods and services that are produced within the economic territory of India and is measured at the market prices, in a year. GNPMP is the value of all the final goods and services that are produced by the normal residents of India and is measured at the market prices, in a year. GNPMP is the value of the income earned by the factors in the form of wages, profits, rent, interest, etc., within the domestic territory of a country. GNPMP is the market value of all final goods and services produced within a domestic territory of a country measured in a month. |
GNPMP is the value of all the final goods and services that are produced by the normal residents of India and is measured at the market prices, in a year. |
The correct answer is Option (2) → GNPMP is the value of all the final goods and services that are produced by the normal residents of India and is measured at the market prices, in a year. GNPMP is the value of all the final goods and services that are produced by the normal residents of India and is measured at the market prices, in a year. GNP refers to all the economic output produced by a nation’s normal residents, whether they are located within the national boundary or abroad. |
