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WAEC Economics 2006 Question 35

Question 35

National Income

The difference between the Gross National Product (GNP) and the Gross Domestic Product (GDP) is

  1. A.total interest payment
  2. B.net income generated internally
  3. C.total national savings
  4. D.net income from abroad.
Show the answer and explanation

Answer: D (net income from abroad.)

Explanation

GNP = GDP + net factor income from abroad, so the difference is net income from abroad.