Economics · National Income Accounting
Consider the following statements: Statement I: Gross National Product (GNP) will always be more than the Gross Domestic Product (GDP). Statement II: To get GNP, net factor income from abroad (NFIA) is added to GDP. Select the correct option:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Statement I is false, but Statement II is true✓
- 2Statement I is true, but Statement II is fal se
- 3Both Statement I and Statement II are true, but Statement II is not the correct explanation of Statement I
- 4Both Statement I and Statement II are true, and Statement II is the correct explanation of Statement I
Correct answer
Statement I is false, but Statement II is true
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