Which of the following is not required while computing Gross National Product (GNP) ?
Correct answer: C. Per capita income of citizens
- A. Net foreign investment
- B. Private investment
- C. Per capita income of citizens
- D. None of the above
Explanation
GNP is calculated from national output or income measures, including relevant investment and foreign-income adjustments, but per capita income is a derived welfare indicator rather than an input. Thus per capita income is not required for computing GNP.
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The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
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