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WAEC Economics 2016 Question 33

Question 33

National Income

The difference between GDP and GNP is

  1. A.consumption of fixed capital.
  2. B.indirect business tax.
  3. C.net factor income from abroad.
  4. D.public transfer payments.
Show the answer and explanation

Answer: C (net factor income from abroad.)

Explanation

GNP = GDP + net factor income from abroad.