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Gross national product is the total market value of all final goods and services produced by _________.​
Question

Gross national product is the total market value of all final goods and services produced by _________.​

A.

​nationals and NRIs of a country during a period of five years​

B.

​Country’s residents over a period of time​

C.

​national and foreigners during a period of two years​

D.

nationals of a country during a period of five year

Correct option is B

Correct Answer: (b) Country’s residents over a period of time

Explanation:

  • Gross National Product (GNP) is the total market value of all final goods and services produced by a country's residents (both within the country and abroad) during a specific period, typically one year.
  • It includes the income earned by nationals from foreign investments but excludes the income earned by foreigners within the country.

Other Options:

  • Nationals and NRIs of a country during a period of five years: This is not correct, as GNP is typically measured annually and is not restricted to a five-year period.
  • National and foreigners during a period of two years: This is incorrect, as GNP focuses on a country's residents and does not include foreign income earned by residents outside the country.
  • Nationals of a country during a period of five years: This is incorrect, as GNP includes residents' income both inside and outside the country, not just the nationals within the country.

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