BPSC (Bihar) Exam > BPSC (Bihar) Questions > Consider the following pairs:1. Gross Domest...
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Consider the following pairs:
1. Gross Domestic Product (GDP) : Total value of all final goods and services produced within a nation's boundaries during a one-year period
2. Net Domestic Product (NDP) : GDP adjusted for exports and imports
3. Gross National Product (GNP) : GDP plus 'income from abroad'
4. Net National Product (NNP) : GNP minus depreciation
How many pairs given above are correctly matched?
- a)Only one pair
- b)Only two pairs
- c)Only three pairs
- d)All four pairs
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
Consider the following pairs:1. Gross Domestic Product (GDP) : Total ...
1. Gross Domestic Product (GDP) : Total value of all final goods and services produced within a nation's boundaries during a one-year period
- This is correctly matched. GDP indeed measures the total value of all final goods and services produced within a country's borders in a given year.
2. Net Domestic Product (NDP) : GDP adjusted for exports and imports
- This is incorrectly matched. NDP is actually GDP minus depreciation, not adjusted for exports and imports.
3. Gross National Product (GNP) : GDP plus 'income from abroad'
- This is correctly matched. GNP is calculated by adding the GDP to the net income received from abroad.
4. Net National Product (NNP) : GNP minus depreciation
- This is correctly matched. NNP is derived by subtracting depreciation from GNP.
Thus, pairs 1, 3, and 4 are correctly matched, while pair 2 is not.
Answer: Option C
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Consider the following pairs:1. Gross Domestic Product (GDP) : Total ...
Explanation:
Gross Domestic Product (GDP)
- GDP is the total value of all final goods and services produced within a nation's boundaries during a one-year period.
Net Domestic Product (NDP)
- NDP is GDP adjusted for exports and imports. It takes into account the depreciation of capital goods to provide a more accurate picture of a nation's economic output.
Gross National Product (GNP)
- GNP is GDP plus 'income from abroad'. It includes the income earned by a country's residents both domestically and abroad.
Net National Product (NNP)
- NNP is calculated by subtracting depreciation from GNP. It provides a measure of a nation's economic output that accounts for the wear and tear on capital assets.
Therefore, out of the four pairs given, the correctly matched pairs are:
- Gross Domestic Product (GDP) with the definition provided
- Gross National Product (GNP) with the definition provided
- Net National Product (NNP) with the definition provided
Hence, only three pairs out of the four given are correctly matched.
Gross Domestic Product (GDP)
- GDP is the total value of all final goods and services produced within a nation's boundaries during a one-year period.
Net Domestic Product (NDP)
- NDP is GDP adjusted for exports and imports. It takes into account the depreciation of capital goods to provide a more accurate picture of a nation's economic output.
Gross National Product (GNP)
- GNP is GDP plus 'income from abroad'. It includes the income earned by a country's residents both domestically and abroad.
Net National Product (NNP)
- NNP is calculated by subtracting depreciation from GNP. It provides a measure of a nation's economic output that accounts for the wear and tear on capital assets.
Therefore, out of the four pairs given, the correctly matched pairs are:
- Gross Domestic Product (GDP) with the definition provided
- Gross National Product (GNP) with the definition provided
- Net National Product (NNP) with the definition provided
Hence, only three pairs out of the four given are correctly matched.
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Consider the following pairs:1. Gross Domestic Product (GDP) : Total value of all final goods and services produced within a nation's boundaries during a one-year period2. Net Domestic Product (NDP) : GDP adjusted for exports and imports3. Gross National Product (GNP) : GDP plus 'income from abroad'4. Net National Product (NNP) : GNP minus depreciationHow many pairs given above are correctly matched?a)Only one pairb)Only two pairsc)Only three pairsd)All four pairsCorrect answer is option 'C'. Can you explain this answer?
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Consider the following pairs:1. Gross Domestic Product (GDP) : Total value of all final goods and services produced within a nation's boundaries during a one-year period2. Net Domestic Product (NDP) : GDP adjusted for exports and imports3. Gross National Product (GNP) : GDP plus 'income from abroad'4. Net National Product (NNP) : GNP minus depreciationHow many pairs given above are correctly matched?a)Only one pairb)Only two pairsc)Only three pairsd)All four pairsCorrect answer is option 'C'. Can you explain this answer? for BPSC (Bihar) 2024 is part of BPSC (Bihar) preparation. The Question and answers have been prepared according to the BPSC (Bihar) exam syllabus. Information about Consider the following pairs:1. Gross Domestic Product (GDP) : Total value of all final goods and services produced within a nation's boundaries during a one-year period2. Net Domestic Product (NDP) : GDP adjusted for exports and imports3. Gross National Product (GNP) : GDP plus 'income from abroad'4. Net National Product (NNP) : GNP minus depreciationHow many pairs given above are correctly matched?a)Only one pairb)Only two pairsc)Only three pairsd)All four pairsCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for BPSC (Bihar) 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following pairs:1. Gross Domestic Product (GDP) : Total value of all final goods and services produced within a nation's boundaries during a one-year period2. Net Domestic Product (NDP) : GDP adjusted for exports and imports3. Gross National Product (GNP) : GDP plus 'income from abroad'4. Net National Product (NNP) : GNP minus depreciationHow many pairs given above are correctly matched?a)Only one pairb)Only two pairsc)Only three pairsd)All four pairsCorrect answer is option 'C'. Can you explain this answer?.
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