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If a country's GDP is greater than it's GNP , it implies that the country : ( a) Is a net exporter (b) Is a net importer (c) Has a trade surplus (d) Has a trade deficit?
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If a country's GDP is greater than it's GNP , it implies that the coun...
Explanation:
What is GDP and GNP?
- GDP (Gross Domestic Product) is the total value of all goods and services produced within a country's borders in a specific time period.
- GNP (Gross National Product) is the total value of all goods and services produced by a country's residents, regardless of where they are located.
Implication of GDP greater than GNP:
- When a country's GDP is greater than its GNP, it means that the country is earning more from production activities within its borders than it is earning from investments abroad.
- This situation typically occurs when a country is a net exporter, meaning it exports more goods and services than it imports.
Answer:
- Therefore, if a country's GDP is greater than its GNP, it implies that the country is a net exporter as it is earning more from its domestic production activities than from investments abroad.
What is GDP and GNP?
- GDP (Gross Domestic Product) is the total value of all goods and services produced within a country's borders in a specific time period.
- GNP (Gross National Product) is the total value of all goods and services produced by a country's residents, regardless of where they are located.
Implication of GDP greater than GNP:
- When a country's GDP is greater than its GNP, it means that the country is earning more from production activities within its borders than it is earning from investments abroad.
- This situation typically occurs when a country is a net exporter, meaning it exports more goods and services than it imports.
Answer:
- Therefore, if a country's GDP is greater than its GNP, it implies that the country is a net exporter as it is earning more from its domestic production activities than from investments abroad.
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If a country's GDP is greater than it's GNP , it implies that the country : ( a) Is a net exporter (b) Is a net importer (c) Has a trade surplus (d) Has a trade deficit?
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If a country's GDP is greater than it's GNP , it implies that the country : ( a) Is a net exporter (b) Is a net importer (c) Has a trade surplus (d) Has a trade deficit? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about If a country's GDP is greater than it's GNP , it implies that the country : ( a) Is a net exporter (b) Is a net importer (c) Has a trade surplus (d) Has a trade deficit? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If a country's GDP is greater than it's GNP , it implies that the country : ( a) Is a net exporter (b) Is a net importer (c) Has a trade surplus (d) Has a trade deficit?.
If a country's GDP is greater than it's GNP , it implies that the country : ( a) Is a net exporter (b) Is a net importer (c) Has a trade surplus (d) Has a trade deficit? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about If a country's GDP is greater than it's GNP , it implies that the country : ( a) Is a net exporter (b) Is a net importer (c) Has a trade surplus (d) Has a trade deficit? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If a country's GDP is greater than it's GNP , it implies that the country : ( a) Is a net exporter (b) Is a net importer (c) Has a trade surplus (d) Has a trade deficit?.
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