McqMate
| Q. |
Which terns is used in economics for the market value of all goods and services in one year by labour and properly supplied by the residents of the country? |
| A. | GDP |
| B. | GPN |
| C. | OMP |
| D. | GNP |
| Answer» D. GNP | |
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Explanation: Gross National Product (GNP) is defined as "the market value of all goods andservices produced in one year by labour and property supplied by the residents of a country. It is contrasted to Gross domestic product (GDP), defined as "the value of all final goods and services produced in a country in I year." |
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