Real gross national product is

Question

Quizplus · Accepted Answer

Real gross national product is the total value of goods and services produced by a country's residents, regardless of their location. It is calculated by subtracting depreciation and indirect taxes from the gross national product. Therefore, if there were no depreciation and taxes, real gross national product would be the same as national income, making option A the correct answer. Option B is incorrect because national income can vary depending on factors such as depreciation and taxes. Option C is incorrect because real gross domestic product is only concerned with the value of goods and services produced within a country's borders, whereas real GNP considers the production of a country's residents regardless of their physical location. Option D is incorrect because nominal gross national product can be adjusted for inflation to calculate real gross national product, which can be greater or less than nominal GNP depending on the rate of inflation.

Real Gross National Product Is