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- Subject
- Basic of Economicseconomics-mcqs › basic-of-economics
- Published
- 26 May 2019
- Last updated
- 28 May 2026
Explanation
Option C is correct because GNP (Gross National Product) measures the total market value of all final goods and services produced by the residents of a country during a specific period. It differs from total sales, monetary transactions, or total spending, which do not accurately capture this concept.
More Basic of Economics MCQs
Practice related questions from the same subject.
- 1.Which of the following best describes deflation?
- 2.Under what condition can two nations benefit from engaging in international trade?
- 3.Which of the following represents a legitimate form of currency?
- 4.Which political ideology is best summarized by the phrase, "From each according to his ability, to each according to his needs"?
- 5.Which type of currency experiences a decline in its exchange rate due to a continuous balance of payments deficit?
- 6.What is the standard abbreviation used to denote barrels when measuring oil?
- 7.What does the term 'commercial policy' refer to?
- 8.Which German city is recognized for hosting the world's very first automobile factory?
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